0001096752-19-000033.txt : 20191112 0001096752-19-000033.hdr.sgml : 20191112 20191112090105 ACCESSION NUMBER: 0001096752-19-000033 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 17 CONFORMED PERIOD OF REPORT: 20191112 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20191112 DATE AS OF CHANGE: 20191112 FILER: COMPANY DATA: COMPANY CONFORMED NAME: EDGEWELL PERSONAL CARE Co CENTRAL INDEX KEY: 0001096752 STANDARD INDUSTRIAL CLASSIFICATION: PERFUMES, COSMETICS & OTHER TOILET PREPARATIONS [2844] IRS NUMBER: 431863181 STATE OF INCORPORATION: MO FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-15401 FILM NUMBER: 191206470 BUSINESS ADDRESS: STREET 1: 6 RESEARCH DRIVE CITY: SHELTON STATE: CT ZIP: 06484 BUSINESS PHONE: 203-944-5500 MAIL ADDRESS: STREET 1: 6 RESEARCH DRIVE CITY: SHELTON STATE: CT ZIP: 06484 FORMER COMPANY: FORMER CONFORMED NAME: ENERGIZER HOLDINGS INC DATE OF NAME CHANGE: 19991013 8-K 1 epc8-k93019.htm 8-K Document
false0001096752 0001096752 2019-11-12 2019-11-12


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
______________________

FORM 8-K
______________________

CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934

Date of report (date of earliest event reported): November 12, 2019


edgewellexternallogoa40.jpg
EDGEWELL PERSONAL CARE COMPANY

(Exact name of registrant as specified in its charter)
Missouri
1-15401
43-1863181
(State or other jurisdiction of incorporation or organization)
(Commission File Number)
(I.R.S. Employer Identification No.)

6 Research Drive, Shelton, Connecticut 06484
(Address of principal executive offices)
    
203-944-5500
(Registrant's telephone number, including area code)

Title of each class
Stock symbol
Name of each exchange on which registered
Common Stock, par value $0.01 per share
EPC
New York Stock Exchange

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
 
 
 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.





Item 2.02 Results of Operations and Financial Condition.
On November 12, 2019, Edgewell Personal Care Company (the "Company") issued a press release announcing financial and operating results for its fourth quarter and fiscal year ended September 30, 2019. This press release is furnished as Exhibit 99.1 hereto and incorporated herein by reference.
The information contained in this Current Report on Form 8-K under Item 2.02, including the accompanying Exhibit 99.1, is being furnished pursuant to Item 2.02 of Form 8-K and shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section. The information contained in this Current Report on Form 8-K under Items 2.02, including the accompanying Exhibit 99.1, shall not be incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, whether made before or after the date hereof, except as shall be expressly set forth by specific reference in such a filing.

Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.

Exhibit No.
Description
99.1
101
Cover page information from Edgewell Personal Care Company's Current Report on Form 8-K filed on November 12, 2019, formatted in iXBRL (Inline Extensible Business Reporting Language).






SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
EDGEWELL PERSONAL CARE COMPANY
By:  /s/ Daniel J. Sullivan            
Daniel J. Sullivan
Chief Financial Officer

Dated: November 12, 2019






EXHIBIT INDEX

Exhibit No.
Description
99.1
101
Cover page information from Edgewell Personal Care Company's Current Report on Form 8-K filed on November 12, 2019, formatted in iXBRL (Inline Extensible Business Reporting Language).



EX-99.1 2 epcexhibit99193019.htm EXHIBIT 99.1 Exhibit




                                                    Exhibit 99.1

edgewellexternallogoa01a18.jpg
Edgewell Personal Care Company
6 Research Drive
Shelton, Conn 06484
FOR IMMEDIATE RELEASE
Company Contact
 
Chris Gough
Vice President, Investor Relations
203-944-5706
Chris.Gough@Edgewell.com

Edgewell Personal Care Announces Fourth Quarter and Fiscal 2019 Results
and Provides Fiscal Year 2020 Financial Outlook

Shelton, Conn - November 12, 2019 - Edgewell Personal Care Company (NYSE: EPC) today announced results for its fourth fiscal quarter 2019 and full fiscal year ended September 30, 2019 and provided its financial outlook for fiscal 2020.

Executive Summary
Net sales were $528.0 million in the fourth quarter of fiscal 2019, a decrease of 1.7% when compared to the prior year quarter, and $2,141.0 million for the full year, a decrease of 4.2% compared to the prior year. Organic net sales were down 0.9% for the quarter and 3.4% for the full year. (Organic basis excludes the sales impact from the Jack Black acquisition, the sale of Playtex gloves assets, and the translational impact from currency movements.)
GAAP Diluted Earnings Per Share ("EPS") for the fourth quarter were $0.75, including the after-tax impact of $0.17 from Project Fuel, and were a loss of $6.52 for the full year fiscal 2019, including the after-tax impact of a non-cash impairment of goodwill and indefinite-lived intangible assets of $8.97 and an $0.80 after tax impact from Project Fuel expenses. Adjusted EPS were $0.86 for the fourth quarter and $3.48 for the full year.
Net cash from operating activities was $191 million, which allowed the Company to reduce its net debt leverage ratio to 2.8 times.
The Company continued to progress its portfolio transformation, announcing that it had reached a definitive agreement to sell the Infant and Pet Care business.
The Company continued to make substantial progress with integration planning related to the pending combination with Harry’s, which is expected to close in the first quarter of calendar year 2020.

The Company reports and forecasts results on a GAAP and Non-GAAP basis, and has reconciled Non-GAAP results and outlook to the most directly comparable GAAP measures later in this release. See Non-GAAP Financial Measures for a more detailed explanation, including definitions of various Non-GAAP terms used in this release. All comparisons used in this release are with the same period in the prior fiscal year unless otherwise stated.
"Fiscal 2019 was a transformative year for Edgewell, as we advanced our strategic and financial objectives, reshaped our portfolio, invested in our brands and new growth opportunities, and generated substantial cost savings," said Rod Little, Edgewell’s President and Chief Executive Officer. “Our operating and financial results reflect the actions we are taking to innovate, drive sustained growth and simplify the business. Despite the challenging competitive environment, we met the financial targets we set one year ago, and importantly in the second half of the fiscal year, we delivered year-over-year improvement in organic top-line performance across all of our key geographies and segments."

1





Portfolio Transformation
As previously announced, Edgewell has entered into a definitive agreement under which Edgewell will combine with Harry's Inc. The transaction represents a pivotal step forward in Edgewell's portfolio transformation, combining Harry's best-in-class brand building, design and direct-to-consumer (DTC) expertise with Edgewell's strong product technology in shaving, personal care and sun care, global infrastructure and iconic consumer brands. This combination will enable the new company to win across categories and across channels with greater agility and an enhanced ability to connect with the modern consumer. The companies received a second request from the FTC and are continuing to work cooperatively and constructively to provide the FTC the information it needs in a timely manner so that it may complete its review. The companies continue to expect the transaction to close in the first quarter of calendar 2020.
The Company also previously announced its decision to retain the Feminine Care business, determining that there is currently more opportunity for value creation by retaining the business given improving business trends and an outlook for solid EBITDA and cash generation going forward.
The Company announced on October 15, 2019, its decision to sell its Infant and Pet Care business to Le Holding Angelcare Inc. for $122.5 million. The transaction is subject to customary closing conditions and is expected to close by the end of the 2019 calendar year.
Mr. Little commented “We are taking decisive actions to reshape our company and focus on our core Personal Care brands. This transaction brings more clarity to our portfolio, provides additional funds to pay down debt, and is a good outcome for all Edgewell stakeholders."

Fiscal 4Q 2019 Operating Results (Unaudited)
Net sales were $528.0 million in the quarter, a decrease of 1.7%, as compared to the prior year period. Excluding a $4.7 million negative impact from currency translation, organic net sales decreased 0.9%. Organic net sales declined in North America by 5.1% while International organic net sales grew 4.8%. Lower organic net sales in North America were driven by declines in Wet Shave and Feminine Care, while Sun and Skin Care and Infant Care grew. Wet Shave net sales declines were primarily a result of unfavorable price mix, partly offset by higher volumes and favorable product mix. In International markets, organic sales increases were driven by Wet Shave and Sun and Skin Care, with growth coming from all three geographic regions; Asia Pacific, Europe and Latin America.
Gross margin increased 70 basis points to 43.6%, as compared to the prior year period. Excluding $1.9 million of costs associated with the Sun Care reformulation and Project Fuel obsolescence, gross margin decreased 380 basis points to 43.9%. The decline was primarily driven by unfavorable price and cost mix. The unfavorable cost mix was primarily a result of increased energy costs, unfavorable transactional currency impacts and lower absorption rates in Wet Shave and Sun and Skin Care.
Advertising and sales promotion expense ("A&P") was $59.6 million, or 11.3% of net sales, as compared to $63.4 million, or 11.8% of net sales in the prior year period. A&P was primarily driven by lower spending in Wet Shave due to a reduction in Hydro and Intuition f.a.b. spend. Spending in Sun and Skin Care and Men’s grooming increased in the quarter.
Selling, general and administrative expense ("SG&A") was $91.8 million, or 17.4% of net sales compared to $91.6 million, or 17.0% of net sales in the prior year period. Excluding the impact of Restructuring related charges, integration costs and Feminine and Infant Care evaluation costs in both periods, SG&A as a percent of net sales improved 90 basis points from 16.8% in 2018 to 15.9% this quarter despite lower sales. The operational improvement in SG&A was primarily driven by strong execution of Project Fuel partly offset by inflation and higher compensation expense.
The Company recorded a pre-tax restructuring expense of $12.8 million in the quarter in support of Project Fuel consisting of consulting, program management, severance, and IT enablement costs compared to $20.3 million in the prior year period.
Other expense (income), net was $0.2 million expense during the quarter compared to $2.6 million income in the prior year quarter, reflecting lower pension income and a lower net benefit from foreign currency exchange contract gains and losses in the quarter and revaluation of nonfunctional currency balance sheet exposures.
Earnings before income taxes was $41.1 million during the quarter compared to $23.5 million in the fourth quarter of fiscal 2018. Adjusted operating income was $74.4 million in the quarter compared to $87.7 million in the prior year period.
The effective tax rate for fiscal 2019 was 4.4% as compared to 36.9% in the prior year. The fiscal 2019 effective tax rate reflects the impact of a $549 million impairment of goodwill and intangible assets resulting in a tax benefit on a net loss. The effective tax rate for the prior period includes a $21.3 million increase in tax expense related to net charges from the Tax Cuts and Jobs Act (the “Tax Act”). The adjusted effective tax rate for fiscal 2019 and 2018 excludes the one-time impact of the Tax Act, restructuring charges, impairment charges, Harry’s combination and integration planning costs, advisory expenses incurred in connection with the evaluation of the Feminine Care and Infant Care businesses, Sun Care reformulation costs, Jack Black acquisition and

2





integration costs, investor settlement expense, and the sale of the Playtex gloves assets.  The adjusted effective tax rate for fiscal 2019 was 23.8%, compared to an adjusted rate of 23.0% in the prior fiscal year.
GAAP net earnings for the quarter was $40.7 million or $0.75 per share compared to $19.4 million or $0.36 per share in the fourth quarter of fiscal 2018. Adjusted net earnings in the quarter were $46.6 million or $0.86 per share, as compared to $60.2 million or $1.11 per share in the prior year period.

Project Fuel

Project Fuel is an enterprise-wide transformational initiative, launched in the second fiscal quarter of 2018, designed to address all aspects of the Company's business and cost structure, simplifying and transforming the Company's organization, structure and key processes that will provide the necessary catalyst for further re-investment in the Company’s growth objectives while enabling the Company to achieve its desired future state operations.
The Company expects Project Fuel will generate $225 to $240 million in total annual gross savings by the end of the 2021 fiscal year. It is expected that the savings generated will be used to fuel investments and brand building in strategic growth initiatives, offset anticipated operational cost headwinds from inflation and other rising input costs and improve the overall profitability and cash flow of the Company.
To implement the restructuring element of Project Fuel, the Company estimates one-time pre-tax charges to be approximately $130 to $140 million through the end of the 2021 fiscal year.
Fiscal fourth quarter 2019 Project Fuel related restructuring charges were $12.8 million, bringing cumulative charges to $95.5 million for the project to date. Fiscal fourth quarter 2019 Project Fuel related gross savings were approximately $37 million, bringing cumulative gross savings to approximately $137 million for the project to date.

Fiscal 4Q 2019 Operating Segment Results (Unaudited)
The following is a summary of third quarter results by segment:
Wet Shave (Men's Systems, Women's Systems, Disposables, and Shave Preps)
Wet Shave net sales decreased $9.4 million, or 2.7%, as compared to the prior year period. Excluding the impact of currency movements, organic net sales decreased $6.0 million or 1.7%, as compared to the prior year. Total international organic net sales increased 4.2%, reflecting growth in Men's Systems and Disposables as well as growth in all geographic regions. Asia Pacific sales in the current quarter benefited from an increased sell-in related to an October VAT increase in Japan. North America organic net sales declined 9.0%, reflecting on-going competitive intensity and the impact of unfavorable price mix, partly offset by favorable product mix and increased volumes related to our Skintimate disposables launch, Bulldog razors and blades and eCommerce. Wet Shave segment profit decreased $5.9 million, or 6.7%. Excluding the impact of currency movements, organic segment profit decreased $5.7 million, or 6.5%, primarily driven by lower gross margin, partly offset by lower A&P spending.

Sun and Skin Care (Sun Care, Wipes, Bulldog, and Jack Black)
Sun and Skin Care net sales increased $4.0 million, or 5.3%, as compared to the prior year period. Excluding the impact of currency movements, organic net sales increased $5.3 million, or 7.0%, with growth in all geographic regions with the exception of Asia Pacific. Sales growth was driven by increased volumes across Sun Care, Grooming and Wipes, partly offset by unfavorable price mix in Sun Care in North America. Sun and Skin Care segment profit decreased $5.8 million, or 161.1%. Excluding the impact of currency movements, organic segment profit decreased $5.5 million, or 152.8%, reflecting higher A&P spend and lower gross margin.

Feminine Care (Tampons, Pads, and Liners)
Feminine Care net sales decreased $4.6 million, or 5.6%, as compared to the prior year period, as growth in Pads and Liners was more than offset by declines in Tampons. Price mix was also unfavorable in the quarter as a result of a planned increase in trade promotion spend. Feminine Care segment profit increased $0.1 million, or 0.9% as compared to the prior year period, as lower gross margin was offset by lower G&A and A&P spending.

3





All Other (Infant Care, and all other brands)
All Other net sales increased $0.6 million, or 2.0%, as compared to the prior year period. Excluding the impact of currency movements, organic net sales increased $0.6 million, or 2.0%, as compared to the prior year period, driven by cups and mealtime products related to the recent Paw Patrol launch. All Other segment profit decreased $1.3 million, as compared to the prior year period, or 48.1%, primarily driven by unfavorable product and cost mix.

Fiscal 2019 Operating Results (Unaudited)
Net sales were $2,141.0 million in fiscal 2019, a decrease of 4.2% when compared to fiscal 2018, including a 0.8% increase from the acquisition of Jack Black and a 1.6% negative impact from currency translation. Organic net sales decreased 3.4%, primarily driven by declines in North America Wet Shave and Feminine Care. From a geographic perspective, North America organic net sales were down 5.9% also primarily driven by declines in Wet Shave and Feminine Care. International organic net sales increased 0.4% with growth in Wet Shave and Sun and Skin Care.
Gross Margin was $966.6 million, or 45.1% of net sales. Excluding $2.8 million related to Sun Care reformulation costs and $0.6 million from Project Fuel inventory obsolescence, gross margin was 45.3%, a decline as a percent of net sales of 210 basis points versus the prior year. The decrease in gross margin percentage was primarily driven by unfavorable price and cost mix in Wet Shave and unfavorable product mix and higher input costs in Infant Care. Gross margin percentage increased in Sun and Skin and Feminine Care compared to the prior year.
A&P was 11.7% of net sales, down versus 13.1% for the prior year. Lower spending as a percent of sales for the year was the result of a combination of factors, including: an effort to drive out non-productive spend, benefits from the variable element of A&P spend - primarily driven by fewer available promotional slots at retail, a planned shift in spend to trade promotions, as well as favorable comparisons to a year ago with the launch of Hydro Sense and Intuition f.a.b.
SG&A was $372 million, 17.4% of net sales, including $17.7 million of intangibles amortization. Excluding the impact of Restructuring related charges and integration costs in both periods and the impact of Feminine and Infant Care evaluation costs and an investor settlement expense in fiscal 2019, SG&A was 16.5% of net sales in fiscal 2019, compared to 17.5% in the prior year period. The improvement was primarily driven by Project Fuel related savings, partly offset by higher compensation expense and inflation.
During the year, the Company performed an interim assessment of the fair value of its goodwill and indefinite-lived intangible assets due to the current trading price of our common stock and the ensuing decrease in the Company's market capitalization. The Company recorded non-cash impairment charges of $549.0 million in the quarter to reduce the carrying value of the goodwill of the Wet Shave and Infant Care reporting units and the Wet Ones and Diaper Genie indefinite-lived trade names.
GAAP Net earnings in fiscal 2019 were a loss of $352.9 million or $6.52 per share, compared to earnings of $103.3 million or $1.90 per share in fiscal 2018. Adjusted net earnings were $188.8 million or $3.48 per share, compared to $191.6 million or $3.52 per share in fiscal 2018.
Net cash from operating activities was $190.6 million for fiscal 2019, as compared to $259.4 million during the prior year. The decline in operating cash flow in fiscal 2019 was driven by working capital changes, including; increased inventory to improve service levels and to support the Sun Care reformulation project and a decrease in accounts payable days outstanding.
The Company's current net debt leverage ratio is 2.8 times, as the Company continues to use its free cash to fund the business and pay down debt. Post close of the Harry's transaction, the Company's capital allocation priorities will remain focused on funding select growth initiatives in the business and structural de-leveraging.

Full Fiscal Year 2020 Financial Outlook
The outlook provided for fiscal 2020, reflects the existing Edgewell business only, including the Infant and Pet Care business. It does not include any elements of the Harry’s combination or future synergies. Adjustments to this outlook will be provided, as needed, at a future date, post close of these transactions.
The fiscal 2020 outlook for the standalone Edgewell business contemplates stable top-line and stable gross margin performance, compared to fiscal 2019, on-going Project Fuel gross savings and increased commercial investments in the business. Importantly, this Edgewell-only outlook for fiscal 2020 is consistent with the financial assumptions and valuation models developed in support of the combination with Harry’s, as announced on May 9, 2019.
Mr. Little added, "With our pending transactions, we are fundamentally changing the Company. And the outlook we are providing today reflects the actions we are taking and progress we are making to address our core businesses and best positions us as we

4





move into the next chapter of the company’s evolution, focusing on growth and re-investment in the business to drive sustainable value creation."
The Company estimates total net sales to be in the range of down 2% to 1% compared to the prior year. Organic net sales growth, which excludes an estimated 100 basis point negative impact from currency, is expected to be in the range of down 1% to flat compared to the prior year.
The outlook for GAAP EPS is in the range of $2.45 to $2.65 and includes: Project Fuel restructuring charges, IT enablement costs, acquisition and integration costs and Sun Care Monograph costs.
The outlook for Adjusted EPS is in the range of $3.10 to $3.30.
The Company is also providing an outlook for Adjusted EBITDA, as we believe EBITDA will be an important metric on a go-forward basis as a combined company with Harry’s. Adjusted EBITDA is estimated to be in the range of $370 to $380 million.
For fiscal 2020, Project Fuel is expected to generate approximately $70 million in incremental gross savings. Project Fuel related restructuring charges are expected to be approximately $36 million. Total Company capital expenditures, including Project Fuel are expected to be approximately 3.0% to 3.5% of net sales.
The adjusted effective tax rate for fiscal 2020 is estimated to be in the range of 22.5% to 24.5%.
The Company anticipates that fiscal 2020 free cash flow will be above 125% of GAAP net earnings.

Webcast Information
In conjunction with this announcement, the Company will hold an investor conference call beginning at 8:00 a.m. Eastern Time today. The call will focus on fiscal 2019 fourth quarter earnings and the outlook for fiscal 2020. All interested parties may access a live webcast of this conference call at www.edgewell.com, under the "Investors," and "News and Events" tabs or by using the following link: http://ir.edgewell.com/news-and-events/events

For those unable to participate during the live webcast, a replay will be available on www.edgewell.com, under the "Investors," "Financial Reports," and "Quarterly Earnings" tabs.

About Edgewell
Edgewell is a leading pure-play consumer products company with an attractive, diversified portfolio of established brand names such as Schick® and Wilkinson Sword® men's and women's shaving systems and disposable razors; Edge® and Skintimate® shave preparations; Playtex®, Stayfree®, Carefree® and o.b.® feminine care products; Banana Boat®, Hawaiian Tropic®, Bulldog® and Jack Black® sun and skin care products; Playtex® infant feeding and Diaper Genie®; and Wet Ones® moist wipes. The Company has a broad global footprint and operates in more than 50 markets, including the U.S., Canada, Mexico, Germany, Japan, the U.K. and Australia, with approximately 6,000 employees worldwide.

# # #
Forward-Looking Statements. This document contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. You should not place undue reliance on these statements. Forward-looking statements generally can be identified by the use of words or phrases such as "believe," "expect," "expectation," "anticipate," "may," "could," "intend," "belief," "estimate," "plan," "target," "predict," "likely," "will," "should," "forecast," "outlook," or other similar words or phrases. These statements are not based on historical facts, but instead reflect the Company's expectations, estimates or projections concerning future results or events, including, without limitation, the future earnings and performance of Edgewell or any of its businesses. These statements are not guarantees of performance and are inherently subject to known and unknown risks, uncertainties and assumptions that are difficult to predict and could cause the Company's actual results to differ materially from those indicated by those statements. The Company cannot assure you that any of its expectations, estimates or projections will be achieved. The forward-looking statements included in this document are only made as of the date of this document and the Company disclaims any obligation to publicly update any forward-looking statement to reflect subsequent events or circumstances, except as required by law.
In addition, other risks and uncertainties not presently known to the Company or that it presently considers immaterial could significantly affect the accuracy of any such forward-looking statements. Risks and uncertainties include those detailed from time to time in the Company's publicly filed documents, including in Item 1A. Risk Factors of Part I of the Company's Annual Report on Form 10-K filed with the Securities and Exchange Commission on Form 10-K on November 19, 2018.

5






Non-GAAP Financial Measures. While the Company reports financial results in accordance with generally accepted accounting principles ("GAAP") in the U.S., this discussion also includes Non-GAAP measures. These Non-GAAP measures are referred to as "adjusted" or "organic" and exclude items such as restructuring charges, impairment charges, Harry's combination and integration planning costs, Feminine and Infant Care evaluation costs, Sun Care reformulation costs, Jack Black acquisition and integration costs, investor settlement expense, the sale of Playtex gloves assets, and the impact of the transition tax and re-measurement of deferred tax assets and liabilities related to the Tax Act. Reconciliations of Non-GAAP measures, including reconciliations of measures related to the Company's fiscal 2020 financial outlook, are included within the Notes to Condensed Consolidated Financial Statements included with this release.
This Non-GAAP information is provided as a supplement to, not as a substitute for, or as superior to, measures of financial performance prepared in accordance with GAAP. The Company uses this Non-GAAP information internally to make operating decisions and believes it is helpful to investors because it allows more meaningful period-to-period comparisons of ongoing operating results. The information can also be used to perform analysis and to better identify operating trends that may otherwise be masked or distorted by the types of items that are excluded. This Non-GAAP information is a component in determining management's incentive compensation. Finally, the Company believes this information provides a higher degree of transparency. The following provides additional detail on the Company's Non-GAAP measures.

The Company analyzes its net revenue on an organic basis to better measure the comparability of results between periods. Organic net sales exclude the impact of changes in foreign currency, acquisitions, and dispositions. This information is provided because these fluctuations can distort the underlying change in net sales either positively or negatively. For the year ended September 30, 2019, the impact of acquisitions includes net sales and segment profit activity for Jack Black through February 2019. For the year ended September 30, 2019, the impact of dispositions includes a negative impact for the October 2017 net sales and segment profit for Playtex gloves assets.
Adjusted EBITDA is defined as earnings before income taxes, interest expense, net, depreciation and amortization and excludes items such as restructuring charges, impairment charges, Harry's combination and integration planning costs, Feminine and Infant Care evaluation costs, Sun Care reformulation costs, Jack Black acquisition and integration costs, investor settlement expense, and the sale of Playtex gloves assets.
Adjusted operating income is defined as earnings before income taxes, interest expense associated with debt, other income, net, and excludes items such as restructuring charges, impairment charges, Harry's combination and integration planning costs, Feminine and Infant Care evaluation costs, Sun Care reformulation costs, Jack Black acquisition and integration costs, investor settlement expense, and the sale of Playtex gloves assets.
Adjusted net earnings and adjusted earnings per share are defined as net earnings and diluted earnings per share excluding items such as restructuring charges, impairment charges, Harry's combination and integration planning costs, Feminine and Infant Care evaluation costs, Sun Care reformulation costs, Jack Black acquisition and integration costs, investor settlement expense, the sale of Playtex gloves assets, the related tax effects of these items, and the impact of the transition tax and re-measurement of deferred tax assets and liabilities related to the Tax Act.
Adjusted effective tax rate is defined as the effective tax rate excluding items such as restructuring charges, impairment charges, Harry's combination and integration planning costs, Feminine and Infant Care evaluation costs, Sun Care reformulation costs, Jack Black acquisition and integration costs, investor settlement expense, the sale of Playtex gloves assets, the related tax effects of these items, and the impact of the transition tax and re-measurement of deferred tax assets and liabilities related to the Tax Act from the income tax provision and earnings before income taxes.
Adjusted working capital is defined as receivables, less trade allowances in accrued liabilities, plus inventories, less accounts payable, and is calculated using an average of the trailing four-quarter end balances.
Free cash flow is defined as net cash from operating activities less net capital expenditures. Free cash flow conversion is defined as free cash flow as a percentage of net earnings adjusted for the net impact of non-cash impairments.



6






EDGEWELL PERSONAL CARE COMPANY
CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS
(unaudited, in millions, except per share data)

 
Quarter Ended September 30,
 
Year Ended September 30,
 
2019
 
2018
 
2019
 
2018
 
 
 
 
 
 
 
 
Net sales
$
528.0

 
$
537.4

 
$
2,141.0

 
$
2,234.4

Cost of products sold
298.0

 
306.6

 
1,174.4

 
1,201.5

Gross profit
230.0

 
230.8

 
966.6

 
1,032.9

 
 
 
 
 
 
 
 
Selling, general and administrative expense
91.8

 
91.6

 
372.0

 
395.1

Advertising and sales promotion expense
59.6

 
63.4

 
250.9

 
293.3

Research and development expense
14.0

 
14.6

 
53.5

 
61.1

Impairment charges

 

 
549.0

 
24.4

Restructuring charges
8.7

 
19.4

 
46.4

 
38.5

Sale of Playtex gloves assets

 

 

 
(15.3
)
Pension settlement expense

 
5.4

 

 
5.4

Interest expense associated with debt
14.6

 
15.5

 
62.6

 
68.0

Other expense, net
0.2

 
(2.6
)
 
1.5

 
(1.4
)
Earnings (loss) before income taxes
41.1

 
23.5

 
(369.3
)
 
163.8

Income tax (benefit) provision
0.4

 
4.1

 
(16.4
)
 
60.5

Net (loss) earnings
$
40.7

 
$
19.4

 
$
(352.9
)
 
$
103.3

 
 
 
 
 
 
 
 
Earnings per share:
 
 
 
 
 
 
 
Basic net (loss) earnings per share
0.75

 
0.36

 
(6.52
)
 
1.90

Diluted net (loss) earnings per share
0.75

 
0.36

 
(6.52
)
 
1.90

 
 
 
 
 
 
 
 
Weighted-average shares outstanding:
 
 
 
 
 
 
 
     Basic
54.2

 
54.0

 
54.1

 
54.4

     Diluted
54.3

 
54.2

 
54.1

 
54.5


See Accompanying Notes.

7


EDGEWELL PERSONAL CARE COMPANY
CONDENSED CONSOLIDATED BALANCE SHEETS
(unaudited, in millions)  
 
 
September 30,
2019
 
September 30,
2018
Assets
 
 
 
Current assets
 
 
 
Cash and cash equivalents
$
341.6

 
$
266.4

Trade receivables, less allowance for doubtful accounts
205.6

 
226.5

Inventories
357.2

 
329.5

Other current assets
140.0

 
128.8

Total current assets
1,044.4

 
951.2

Property, plant and equipment, net
396.0

 
424.1

Goodwill
1,053.8

 
1,450.8

Other intangible assets, net
912.9

 
1,099.0

Other assets
34.8

 
28.2

Total assets
$
3,441.9

 
$
3,953.3

 
 
 
 
Liabilities and Shareholders' Equity
 
 
 
Current liabilities
 
 
 
Current maturities of long-term debt
$
117.0

 
$
184.9

Notes payable
14.4

 
8.2

Accounts payable
222.8

 
238.4

Other current liabilities
305.4

 
285.5

Total current liabilities
659.6

 
717.0

Long-term debt
1,097.8

 
1,103.8

Deferred income tax liabilities
102.8

 
176.1

Other liabilities
258.9

 
211.8

Total liabilities
$
2,119.1

 
$
2,208.7

Shareholders' equity
 
 
 
Common shares
0.7

 
0.7

Additional paid-in capital
1,627.7

 
1,628.3

Retained earnings
734.1

 
1,083.1

Common shares in treasury at cost
(803.8
)
 
(819.2
)
Accumulated other comprehensive loss
(235.9
)
 
(148.3
)
Total shareholders' equity
1,322.8

 
1,744.6

Total liabilities and shareholders' equity
$
3,441.9

 
$
3,953.3

 
 
 
 

See Accompanying Notes.

8


EDGEWELL PERSONAL CARE COMPANY
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(unaudited, in millions)  
 
 
Year Ended September 30,
 
2019
 
2018
Cash Flow from Operating Activities
 
 
 
Net (loss) earnings
$
(352.9
)
 
$
103.3

Non-cash restructuring costs

 
1.8

Non-cash sun care reformulation

 
25.3

Depreciation and amortization
93.8

 
97.6

Impairment charges
549.0

 
24.4

Loss (gain) on sale of assets
1.5

 
(10.9
)
Deferred income taxes
(57.9
)
 
2.3

Share-based compensation expense
17.8

 
17.0

Other, net
(5.7
)
 
19.5

Deferred compensation payments
(7.5
)
 
(16.7
)
Changes in current assets and liabilities used in operations
(47.5
)
 
(4.2
)
Net cash from operating activities
190.6

 
259.4

 
 
 
 
Cash Flow from Investing Activities
 
 
 
Capital expenditures
(58.0
)
 
(62.0
)
Collection of deferred purchase price from accounts receivable sold
9.7

 
9.7

Acquisitions, net of cash acquired

 
(90.2
)
Proceeds from sale of assets
4.1

 
4.7

Playtex glove sale

 
19.0

Other, net
(1.3
)
 

Net cash used by investing activities
(45.5
)
 
(118.8
)
 
 
 
 
Cash Flow from Financing Activities
 
 
 
Cash proceeds from debt with original maturities greater than 90 days
434.0

 
550.0

Cash payments on debt with original maturities greater than 90 days
(324.0
)
 
(788.0
)
Term Loan repayment
(185.0
)
 

Net increase (decrease) in debt with original maturities of 90 days or less
5.8

 
(9.7
)
Employee shares withheld for taxes
(3.0
)
 
(3.1
)
Common shares purchased

 
(124.4
)
Net financing inflow from the Accounts Receivable Facility
8.4

 
(4.4
)
Net cash used by financing activities
(63.8
)
 
(379.6
)
 
 
 
 
Effect of exchange rate changes on cash
(6.1
)
 
2.5

 
 
 
 
Net increase (decrease) in cash and cash equivalents
75.2

 
(236.5
)
Cash and cash equivalents, beginning of period
266.4

 
502.9

Cash and cash equivalents, end of period
$
341.6

 
$
266.4


See Accompanying Notes.


9






EDGEWELL PERSONAL CARE COMPANY
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(unaudited, in millions, except per share data)

Note 1 - Segments
The Company conducts its business in the following four segments: Wet Shave, Sun and Skin Care, Feminine Care and All Other (collectively, the "Segments" and, each individually, a "Segment"). Segment performance is evaluated based on segment profit, exclusive of general corporate expenses, share-based compensation costs, impairment charges, costs associated with restructuring initiatives, Harry's, Inc. combination and integration planning costs, advisory expenses incurred in connection with the evaluation of the Feminine Care and Infant Care businesses, Sun Care reformulation costs, Jack Black, L.L.C. integration costs, investor settlement expenses, the sale of the Playtex gloves assets, and the amortization of intangible assets. Financial items, such as interest income and expense, are managed on a global basis at the corporate level. The exclusion of such charges from segment results reflects management's view on how it evaluates segment performance.
On March 1, 2018, the Company completed the acquisition of Jack Black, a leading U.S. based luxury men's skincare products company based in the United States, for approximately $90.2, net of cash acquired. The acquisition creates opportunities to expand Edgewell's personal care portfolio in growing categories in the U.S. and globally, while nurturing the brand equity of Jack Black.
Segment net sales and profitability are presented below:
 
Quarter Ended September 30,
 
Year Ended September 30,
 
2019
 
2018
 
2019
 
2018
Net Sales
 
 
 
 
 
 
 
Wet Shave
$
340.3

 
$
349.7

 
$
1,250.1

 
$
1,330.1

Sun and Skin Care
79.5

 
75.5

 
459.8

 
449.7

Feminine Care
77.9

 
82.5

 
308.1

 
329.5

All Other
30.3

 
29.7

 
123.0

 
125.1

Total net sales
$
528.0

 
$
537.4

 
$
2,141.0

 
$
2,234.4

 
 
 
 
 
 
 
 
Segment Profit
 
 
 
 
 
 
 
Wet Shave
$
81.7

 
$
87.6

 
$
246.5

 
$
265.2

Sun and Skin Care
(2.2
)
 
3.6

 
79.9

 
79.9

Feminine Care
11.6

 
11.5

 
48.3

 
37.2

All Other
1.4

 
2.7

 
12.2

 
19.5

Total segment profit
92.5

 
105.4

 
386.9

 
401.8

General corporate and other expenses
(13.8
)
 
(13.2
)
 
(57.3
)
 
(68.8
)
Impairment charges

 

 
(549.0
)
 
(24.4
)
Restructuring and related costs (1)
(12.8
)
 
(20.3
)
 
(55.6
)
 
(39.9
)
Harry's combination and integration costs (2)
(3.3
)
 

 
(5.1
)
 

Sun Care reformulation costs (3)
(1.3
)
 
(25.3
)
 
(2.8
)
 
(25.3
)
Feminine and Infant Care evaluation costs (4)
(0.6
)
 

 
(2.1
)
 

Jack Black acquisition and integration costs (5)
(0.5
)
 
(0.3
)
 
(1.6
)
 
(5.2
)
Investor settlement expense (6)

 

 
(0.9
)
 

Sale of Playtex gloves assets

 

 

 
15.3

Pension settlement expense

 
(5.4
)
 

 
(5.4
)
Amortization of intangibles
(4.3
)
 
(4.5
)
 
(17.7
)
 
(17.7
)
Interest and other expense, net
(14.8
)
 
(12.9
)
 
(64.1
)
 
(66.6
)
Total (loss) earnings before income taxes
$
41.1

 
$
23.5

 
$
(369.3
)
 
$
163.8

(1)
Restructuring costs associated with Project Fuel includes pre-tax SG&A of $3.5 and $8.6 for the quarter and year ended September 30, 2019, and $0.9 and $1.4 for the quarter and year ended September 30, 2018 associated with certain information technology enablement expenses for Project Fuel. Additionally, restructuring includes pre-tax Cost of products sold of $0.6 for the quarter and year ended September 30, 2019 from inventory obsolescence of Project Fuel.

10





(2)
Harry's, Inc. combination and integration planning costs totaling $3.3 and $5.1 for the quarter and year ended September 30, 2019, were included in SG&A on the Consolidated Statement of Earnings.
(3)
Includes pre-tax Cost of products sold of $1.3 and $2.8 for the quarter and year ended September 30, 2019, respectively, associated with supply chain changes on select Sun Care products. Additionally, the quarter and year ended September 30, 2018, includes pre-tax Cost of products sold of $25.3 related to inventory write-offs from Sun Care reformulation.
(4)
Includes pre-tax SG&A of $0.6 and $2.1 for the quarter and year ended September 30, 2019, respectively, associated with consulting costs for the Company to evaluate segments.
(5)
Jack Black acquisition and integration costs totaling $0.5 and $1.6 for the quarter and year ended September 30, 2019, respectively, were included in SG&A on the Consolidated Statement of Earnings. Jack Black acquisition and integration costs totaling $0.3 and $3.4 for the quarter and year ended September 30, 2018, respectively, were included in SG&A in the Consolidated Statement of Earnings. Additionally, acquisition and integration costs of $1.8 were included in Cost of products sold for the quarter and year ended September 30, 2018.
(6)
Includes pre-tax SG&A of $0.9 for the year ended September 30, 2019, associated with a settlement with an investor.


Note 2 - GAAP to Non-GAAP Reconciliations
Basic earnings per share is based on the average number of common shares outstanding during the period. Diluted earnings per share is based on the weighted-average number of shares used for the basic earnings per share calculation, adjusted for the dilutive effect of share options and restricted stock equivalent awards.
The following tables provide a reconciliation of Net (loss) earnings and Net (loss) earnings per diluted share ("EPS") to Adjusted net earnings and Adjusted EPS, which are Non-GAAP measures.
 
Quarter Ended September 30,
 
Net Earnings
 
Diluted EPS
 
2019
 
2018
 
2019
 
2018
Net (Loss) Earnings and Diluted EPS - GAAP (Unaudited)
$
40.7

 
$
19.4

 
$
0.75

 
$
0.36

Restructuring and related costs (1)
12.8

 
20.3

 
0.24

 
0.38

Harry's combination and integration costs (2)
3.3

 

 
0.06

 

Sun Care reformulation costs (4)
1.3

 
25.3

 
0.02

 
0.47

Feminine and Infant Care evaluation costs (3)
0.6

 

 
0.01

 

Jack Black acquisition and integration (5)
0.5

 
0.3

 
0.01

 
0.01

Pension settlement expense

 
5.4

 

 
0.10

Income taxes
(12.6
)
 
(10.5
)
 
(0.23
)
 
(0.21
)
Adjusted Net Earnings and Adjusted Diluted EPS - Non-GAAP
$
46.6

 
$
60.2

 
$
0.86

 
$
1.11

 
 
 
 
 
 
 
 
Weighted-average shares - Diluted
 
 
 
 
54.3

 
54.2

 
Year Ended September 30,
 
Net Earnings
 
Diluted EPS
 
2019
 
2018
 
2019
 
2018
Net (Loss) Earnings and Diluted EPS - GAAP (Unaudited)
$
(352.9
)
 
$
103.3

 
$
(6.52
)
 
$
1.90

Impairment charges
549.0

 
24.4

 
10.14

 
0.73

Restructuring and related costs (1)
55.6

 
39.9

 
1.03

 
0.45

Harry's combination and integration costs (2)
5.1

 

 
0.09

 

Sun Care reformulation costs (4)
2.8

 
25.3

 
0.05

 
0.46

Feminine and Infant Care evaluation costs (3)
2.1

 

 
0.04

 

Jack Black acquisition and integration (5)
1.6

 
5.2

 
0.03

 
0.10

Investor settlement expense (6)
0.9

 

 
0.02

 

Gain on sale of Playtex gloves assets

 
(15.3
)
 

 
(0.28
)
Pension settlement expense

 
5.4

 

 
0.10

Impact of dilutive shares (7)

 

 
(0.01
)
 

Income taxes (8)
(75.4
)
 
3.4

 
(1.39
)
 
0.06

Adjusted Net Earnings and Adjusted Diluted EPS - Non-GAAP
$
188.8

 
$
191.6

 
$
3.48

 
$
3.52

 
 
 
 
 
 
 
 
Weighted-average shares - Diluted
 
 
 
 
54.1

 
54.5



11





(1)
Restructuring costs associated with Project Fuel includes pre-tax SG&A of $3.5 and $8.6 for the quarter and year ended September 30, 2019, and $0.9 and $1.4 for the quarter and year ended September 30, 2018 associated with certain information technology enablement expenses for Project Fuel. Additionally, restructuring includes pre-tax Cost of products sold of $0.6 for the quarter and year ended September 30, 2019 from inventory obsolescence of Project Fuel.
(2)
Harry's, Inc. combination and integration planning totaling $3.3 and $5.1 for the quarter and year ended September 30, 2019, were included in SG&A on the Consolidated Statement of Earnings.
(3)
Includes pre-tax Cost of products sold of $1.3 and $2.8 for the quarter and year ended September 30, 2019, respectively, associated with supply chain changes on select Sun Care products. Additionally, the quarter and year ended September 30, 2018, includes pre-tax Cost of products sold of $25.3 related to inventory write-offs from Sun Care reformulation.
(4)
Includes pre-tax SG&A of $0.6 and $2.1 for the quarter and year ended September 30, 2019, respectively, associated with consulting costs for the Company to evaluate segments.
(5)
Jack Black acquisition and integration costs totaling $0.5 and $1.6 for the quarter and year ended September 30, 2019, respectively, were included in SG&A on the Consolidated Statement of Earnings. Jack Black acquisition and integration costs totaling $0.3 and $3.4 for the quarter and year ended September 30, 2018, respectively, were included in SG&A in the Consolidated Statement of Earnings. Additionally, acquisition and integration costs of $1.8 were included in Cost of products sold for the quarter and year ended September 30, 2018.
(6)
Includes pre-tax SG&A of $0.9 for the year ended September 30, 2019, associated with a settlement with an investor.
(7)
GAAP EPS was calculated using basic weighted average shares outstanding due to a net loss. Adjusted diluted EPS was calculated using diluted weighted average shares outstanding.
(8)
Includes Income tax expense of $3.6 for the year ended September 30, 2019 related to the fiscal 2018 one-time transition tax from the Tax Act. Includes the impact of the Tax Act totaling $21.3 in Income tax expense for fiscal 2018 in addition to the tax impact of the other adjustments to Net Earnings and Diluted EPS - GAAP.

The following tables provide a GAAP to Non-GAAP reconciliation of certain line items from the Condensed Consolidated Statement of Earnings:
Quarter Ended September 30, 2019
 
 
 
 
 
 
 
 
 
 
Gross Profit
 
SG&A
 
EBIT (1)
 
Net (Loss) Earnings
 
Diluted EPS
GAAP - Reported
$
230.0

 
$
91.8

 
$
41.1

 
$
40.7

 
$
0.75

% of net sales
43.6
%
 
17.4
%
 
 
 
 
 
 
Restructuring and related costs
0.6

 
3.5

 
12.8

 
9.8

 
0.17

Harry's combination and integration costs

 
3.3

 
3.3

 
2.5

 
0.05

Sun Care reformulation costs
1.3

 

 
1.3

 
1.0

 
0.02

Feminine and Infant Care evaluation costs

 
0.6

 
0.6

 
0.5

 
0.01

Jack Black acquisition and integration costs

 
0.5

 
0.5

 
0.4

 
0.01

Income taxes (2)

 

 

 
(8.3
)
 
(0.15
)
Total Adjusted Non-GAAP
$
231.9

 
$
83.9

 
$
59.6

 
$
46.6

 
$
0.86

% of net sales
43.9
%
 
15.9
%
 
 
 
 
 
 
Year Ended September 30, 2019
 
 
 
 
 
 
 
 
 
 
Gross Profit
 
SG&A
 
EBIT (1)
 
Net (Loss) Earnings
 
Diluted EPS
GAAP - Reported
$
966.6

 
$
372.0

 
$
(369.3
)
 
$
(352.9
)
 
$
(6.52
)
% of net sales
45.1
%
 
17.4
%
 
 
 
 
 
 
Impairment charges

 

 
549.0

 
485.4

 
8.97

Restructuring and related costs
0.6

 
8.6

 
55.6

 
43.2

 
0.80

Harry's combination and integration costs

 
5.1

 
5.1

 
3.9

 
0.07

Sun Care reformulation costs
2.8

 

 
2.8

 
2.1

 
0.04

Feminine and Infant Care evaluation costs

 
2.1

 
2.1

 
1.6

 
0.03

Jack Black acquisition and integration costs

 
1.6

 
1.6

 
1.2

 
0.02

Investor settlement expense

 
0.9

 
0.9

 
0.7

 
0.01

Impact of dilutive shares

 

 

 

 
(0.01
)
Income tax reform

 

 

 
3.6

 
0.07

Total Adjusted Non-GAAP
$
970.0

 
$
353.7

 
$
247.8

 
$
188.8

 
$
3.48

% of net sales
45.3
%
 
16.5
%
 
 
 
 
 
 

12





Quarter Ended September 30, 2018
 
 
 
 
 
 
 
 
 
 
Gross Profit
 
SG&A
 
EBIT (1)
 
Net Earnings
 
Diluted EPS
GAAP - Reported
$
230.8

 
$
91.6

 
$
23.5

 
$
19.4

 
$
0.36

% of net sales
42.9
%
 
17.0
%
 
 
 
 
 
 
Restructuring and related costs

 
0.9

 
20.3

 
14.6

 
0.27

Sun Care reformulation costs
25.3

 

 
25.3

 
18.3

 
0.34

Pension settlement expense

 

 
5.4

 
3.8

 
0.07

Jack Black acquisition and integration costs

 
0.3

 
0.3

 
0.2

 

Income tax reform

 

 

 
3.9

 
0.07

Total Adjusted Non-GAAP
$
256.1

 
$
90.4

 
$
74.8

 
$
60.2

 
$
1.11

% of net sales
47.7
%
 
16.8
%
 
 
 
 
 
 
Year Ended September 30, 2018
 
 
 
 
 
 
 
 
 
 
Gross Profit
 
SG&A
 
EBIT (1)
 
Net Earnings
 
Diluted EPS
GAAP - Reported
$
1,032.9

 
$
395.1

 
$
163.8

 
$
103.3

 
$
1.90

% of net sales
46.2
%
 
17.7
%
 
 
 
 
 
 
Restructuring and related costs

 
1.4

 
39.9

 
28.9

 
0.52

Impairment charge

 

 
24.4

 
23.3

 
0.43

Sun Care reformulation costs
25.3

 

 
25.3

 
18.3

 
0.34

Sale of Playtex gloves assets

 

 
(15.3
)
 
(11.1
)
 
(0.20
)
Pension settlement expense

 

 
5.4

 
3.8

 
0.07

Jack Black acquisition and integration costs
1.8

 
3.4

 
5.2

 
3.8

 
0.07

Income tax reform

 

 

 
21.3

 
0.39

Total Adjusted Non-GAAP
$
1,060.0

 
$
390.3

 
$
248.7

 
$
191.6

 
$
3.52

% of net sales
47.4
%
 
17.5
%
 
 
 
 
 
 
(1)
EBIT is defined as Earnings (loss) before income taxes.
(2)
Includes Income tax expense for the one-time transition tax from the Tax Act and the tax impact of the impairment of goodwill and intangible assets recorded in the third quarter of fiscal 2019.

The following table provides a reconciliation of Earnings before income taxes to adjusted operating income, which is a Non-GAAP measure, for the quarters and years ended September 30, 2019 and 2018:
 
Quarter Ended September 30,
 
Year Ended September 30,
 
2019
 
2018
 
2019
 
2018
Earnings (loss) before income taxes
$
41.1

 
$
23.5

 
$
(369.3
)
 
$
163.8

Impairment charges

 

 
549.0

 
24.4

Restructuring and related costs (1)
12.8

 
20.3

 
55.6

 
39.9

Harry's combination and integration costs (2)
3.3

 

 
5.1

 

Sun Care reformulation costs (3)
1.3

 
25.3

 
2.8

 
25.3

Feminine and Infant Care evaluation costs (4)
0.6

 

 
2.1

 

Jack Black acquisition and integration costs (5)
0.5

 
0.3

 
1.6

 
5.2

Investor settlement expense (6)

 

 
0.9

 

Sale of Playtex gloves assets

 

 

 
(15.3
)
Pension settlement expense

 
5.4

 

 
5.4

Interest expense associated with debt
14.6

 
15.5

 
62.6

 
68.0

Other expense, net
0.2

 
(2.6
)
 
1.5

 
(1.4
)
Adjusted operating income
$
74.4

 
$
87.7

 
$
311.9

 
$
315.3

% of net sales
14.1
%
 
16.3
%
 
14.6
%
 
14.1
%
(1)
Restructuring costs associated with Project Fuel includes pre-tax SG&A of $3.5 and $8.6 for the quarter and year ended September 30, 2019, and $0.9 and $1.4 for the quarter and year ended September 30, 2018 associated with certain information technology enablement expenses for Project Fuel. Additionally, restructuring includes pre-tax Cost of products sold of $0.6 for the quarter and year ended September 30, 2019 from inventory obsolescence of Project Fuel.
(2)
Harry's, Inc. combination and integration planning costs totaling $3.3 and $5.1 for the quarter and year ended September 30, 2019, were included in SG&A on the Consolidated Statement of Earnings.

13





(3)
Includes pre-tax Cost of products sold of $1.3 and $2.8 for the quarter and year ended September 30, 2019, respectively, associated with supply chain changes on select Sun Care products. Additionally, the quarter and year ended September 30, 2018, includes pre-tax Cost of products sold of $25.3 related to inventory write-offs from Sun Care reformulation.
(4)
Includes pre-tax SG&A of $0.6 and $2.1 for the quarter and year ended September 30, 2019, respectively, associated with consulting costs for the Company to evaluate segments.
(5)
Jack Black acquisition and integration costs totaling $0.5 and $1.6 for the quarter and year ended September 30, 2019, respectively, were included in SG&A on the Consolidated Statement of Earnings. Jack Black acquisition and integration costs totaling $0.3 and $3.4 for the quarter and year ended September 30, 2018, respectively, were included in SG&A in the Consolidated Statement of Earnings. Additionally, acquisition and integration costs of $1.8 were included in Cost of products sold for the quarter and year ended September 30, 2018.
(6)
Includes pre-tax SG&A of $0.9 for the year ended September 30, 2019, associated with a settlement with an investor.

The following table provides a reconciliation of the effective tax rate to the adjusted effective tax rate, which is a Non-GAAP measure:
 
Year Ended September 30, 2019
 
Year Ended September 30, 2018
 
Reported
 
Adjustments (1)
 
Adjusted
(Non-GAAP)
 
Reported
 
Adjustments (1)
 
Adjusted
(Non-GAAP)
Earnings (loss) before income taxes
(369.3
)
 
$
617.1

 
$
247.8

 
163.8

 
$
84.9

 
$
248.7

Income tax (benefit) provision
(16.4
)
 
75.4

 
59.0

 
60.5

 
(3.4
)
 
57.1

Net (loss) earnings
$
(352.9
)
 
$
541.7

 
$
188.8

 
$
103.3

 
$
88.3

 
$
191.6

 
 
 
 
 
 
 
 
 
 
 
 
Effective tax rate
4.4
%
 
 
 
 
 
36.9
%
 
 
 
 
Adjusted effective tax rate
 
 
 
 
23.8
%
 
 
 
 
 
23.0
%
(1)
Includes adjustments for restructuring charges, impairment charges, Harry's combination and integration planning costs, Feminine and Infant Care evaluation costs, Jack Black acquisition and integration costs, investor settlement expense, Sun Care reformulation costs, the sale of the Playtex gloves assets, the related tax effects of these items, and the impact of the transition tax and re-measurement of deferred tax assets and liabilities related to the Tax Act.

Note 3 - Net Sales and Profit by Segment
Operations for the Company are reported via the four Segments. The following tables present changes in net sales and segment profit for the quarter and year ended September 30, 2019, as compared to the corresponding period in fiscal 2018, and provide a reconciliation of organic net sales and organic segment profit to reported amounts.
Net Sales (In millions - Unaudited)
Quarter Ended September 30, 2019
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Wet
Shave
 
Sun and Skin
Care
 
Feminine
Care
 
All
Other
 
Total
Net Sales - Q4 '18
$
349.7

 
 
 
$
75.5

 
 
 
$
82.5

 
 
 
$
29.7

 
 
 
$
537.4

 
 
Organic
(6.0
)
 
(1.7
)%
 
5.3

 
7.0
 %
 
(4.6
)
 
(5.6
)%
 
0.6

 
2.0
%
 
(4.7
)
 
(0.9
)%
Impact of disposition

 
 %
 

 
 %
 

 
 %
 

 
%
 

 
 %
Impact of acquisition

 
 %
 

 
 %
 

 
 %
 

 
%
 

 
 %
Impact of currency
(3.4
)
 
(1.0
)%
 
(1.3
)
 
(1.7
)%
 

 
 %
 

 
%
 
(4.7
)
 
(0.8
)%
Net Sales - Q4 '19
$
340.3

 
(2.7
)%
 
$
79.5

 
5.3
 %
 
$
77.9

 
(5.6
)%
 
$
30.3

 
2.0
%
 
$
528.0

 
(1.7
)%

14





Net Sales (In millions - Unaudited)
Year Ended September 30, 2019
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Wet
Shave
 
Sun and Skin
Care
 
Feminine
Care
 
All
Other
 
Total
Net Sales - FY '18
$
1,330.1

 
 
 
$
449.7

 
 
 
$
329.5

 
 
 
$
125.1

 
 
 
$
2,234.4

 
 
Organic
(54.7
)
 
(4.1
)%
 
(0.1
)
 
 %
 
(20.7
)
 
(6.3
)%
 
(1.4
)
 
(1.1
)%
 
(76.9
)
 
(3.4
)%
Impact of disposition

 
 %
 
(1.0
)
 
(0.2
)%
 

 
 %
 

 
 %
 
(1.0
)
 
 %
Impact of acquisition

 
 %
 
17.1

 
3.8
 %
 

 
 %
 

 
 %
 
17.1

 
0.8
 %
Impact of currency
(25.3
)
 
(1.9
)%
 
(5.9
)
 
(1.4
)%
 
(0.7
)
 
(0.2
)%
 
(0.7
)
 
(0.6
)%
 
(32.6
)
 
(1.6
)%
Net Sales - FY '19
$
1,250.1

 
(6.0
)%
 
$
459.8

 
2.2
 %
 
$
308.1

 
(6.5
)%
 
$
123.0

 
(1.7
)%
 
$
2,141.0

 
(4.2
)%
Segment Profit (In millions - Unaudited)
Quarter Ended September 30, 2019
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Wet
Shave
 
Sun and Skin
Care
 
Feminine
Care
 
All
Other
 
Total
Segment Profit - Q4 '18
$
87.6

 
 
 
$
3.6

 
 
 
$
11.5

 
 
 
$
2.7

 
 
 
$
105.4

 
 
Organic
(5.7
)
 
(6.5
)%
 
(5.5
)
 
(152.8
)%
 

 
%
 
(1.3
)
 
(48.1
)%
 
(12.5
)
 
(11.9
)%
Impact of disposition

 
 %
 

 
 %
 

 
%
 

 
 %
 

 
 %
Impact of acquisition

 
 %
 

 
 %
 

 
%
 

 
 %
 

 
 %
Impact of currency
(0.2
)
 
(0.2
)%
 
(0.3
)
 
(8.3
)%
 
0.1

 
0.9
%
 

 
 %
 
(0.4
)
 
(0.4
)%
Segment Profit - Q4 '19
$
81.7

 
(6.7
)%
 
$
(2.2
)
 
(161.1
)%
 
$
11.6

 
0.9
%
 
$
1.4

 
(48.1
)%
 
$
92.5

 
(12.3
)%
Segment Profit (In millions - Unaudited)
Year Ended September 30, 2019
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Wet
Shave
 
Sun and Skin
Care
 
Feminine
Care
 
All
Other
 
Total
Segment Profit - FY '18
$
265.2

 
 
 
$
79.9

 
 
 
$
37.2

 
 
 
$
19.5

 
 
 
$
401.8

 
 
Organic
(13.4
)
 
(5.1
)%
 
(4.3
)
 
(5.4
)%
 
11.5

 
30.9
 %
 
(6.9
)
 
(35.4
)%
 
(13.1
)
 
(3.3
)%
Impact of disposition

 
 %
 
(0.3
)
 
(0.4
)%
 

 
 %
 

 
 %
 
(0.3
)
 
 %
Impact of acquisition

 
 %
 
5.3

 
6.6
 %
 

 
 %
 

 
 %
 
5.3

 
1.3
 %
Impact of currency
(5.3
)
 
(2.0
)%
 
(0.7
)
 
(0.8
)%
 
(0.4
)
 
(1.1
)%
 
(0.4
)
 
(2.0
)%
 
(6.8
)
 
(1.7
)%
Segment Profit - FY '19
$
246.5

 
(7.1
)%
 
$
79.9

 
 %
 
$
48.3

 
29.8
 %
 
$
12.2

 
(37.4
)%
 
$
386.9

 
(3.7
)%

Note 4 - EBITDA
The Company reports financial results on a GAAP and adjusted basis. The table below is used to reconcile Net earnings to EBITDA and Adjusted EBITDA, which are Non-GAAP measures, to improve comparability of results between periods.

15





 
Quarter Ended September 30,
 
Year Ended September 30,
 
2019
 
2018
 
2019
 
2018
Net (loss) earnings
$
40.7

 
$
19.4

 
$
(352.9
)
 
$
103.3

Income tax (benefit) provision
0.4

 
4.1

 
(16.4
)
 
60.5

Interest expense, net
14.6

 
15.3

 
62.3

 
67.9

Depreciation and amortization
24.6

 
24.2

 
93.8

 
97.6

EBITDA
$
80.3

 
$
63.0

 
$
(213.2
)
 
$
329.3

 
 
 
 
 
 
 
 
Impairment charges
$

 
$

 
$
549.0

 
$
24.4

Restructuring and related costs(1)
11.9

 
20.3

 
53.7

 
39.9

Harry's combination and integration costs
3.3

 

 
5.1

 

Sun Care reformulation costs
1.3

 
25.3

 
2.8

 
25.3

Feminine and Infant Care evaluation costs
0.5

 

 
2.1

 

Jack Black acquisition and integration costs
0.5

 
0.3

 
1.6

 
5.2

Investor settlement expense

 

 
0.9

 

Sale of Playtex gloves assets

 

 

 
(15.3
)
Pension settlement charges

 
5.4

 

 
5.4

Adjusted EBITDA
$
97.8

 
$
114.3

 
$
402.0

 
$
414.2

(1)
Excludes $0.9 and $1.9 of accelerated depreciation for the quarter and year ended September 30, 2019, respectively, which are included within Depreciation and amortization.
Note 5 - Outlook
The following tables provide reconciliations of Adjusted EPS and Adjusted EBITDA, Non-GAAP measures, included within the Company's outlook for projected fiscal 2020 results:
Adjusted EPS Outlook
 
 
Fiscal 2020 GAAP EPS
approx.
$ 2.45 - $2.65
 
 
 
Project Fuel
approx.
0.65
Acquisition and integration expenses
approx.
0.13
Monograph expenses
approx.
0.07
Income taxes(1)
approx.
(0.20)
 
 
 
Fiscal 2020 Adjusted EPS Outlook (Non-GAAP)
 
$3.10 - $3.30
(1)
Income tax effect of the adjustments to Fiscal 2020 GAAP EPS noted above.

Adjusted EBITDA Outlook
 
 
 
 
 
Fiscal 2020 GAAP Net income
approx.
$135 - $145
Income tax provision
approx.
45
Interest expense, net
approx.
55
Depreciation and amortization
approx.
90
EBITDA
approx.
$325 - $335
 
 
 
Project Fuel
approx.
36
Acquisition and integration expenses
approx.
6
Monograph expenses
approx.
3
Fiscal 2020 Adjusted EBITDA
approx.
$370 - $380


16





Note 6 - Adjusted Working Capital
Adjusted working capital metrics for the fourth and third quarters of fiscal 2019 and the fourth quarter of fiscal 2018 are presented below.
 
Q4 2019
 
Days (1)
 
Q3 2019
 
Days (1)
Q4 2018
 
Days (1)
Receivables, as reported
$
215.4

 
 
 
$
220.6

 
 
$
223.4

 
 
Less: Trade allowance in accrued liabilities (2)
(24.6
)
 
 
 
(25.5
)
 
 
(25.8
)
 
 
Receivables, adjusted
190.8

 
33

 
195.1

 
33

197.6

 
32

 
 
 
 
 
 
 
 
 
 
 
Inventories, as reported
371.4

 
115

 
364.5

 
113

347.4

 
106

 
 
 
 
 
 
 
 
 
 
 
Accounts payable, as reported
218.8

 
68

 
222.7

 
69

229.6

 
70

 
 
 
 
 
 
 
 
 
 
 
Average adjusted working capital (3)
$
343.4

 
 
 
$
336.9

 
 
$
315.4

 
 
% of net sales (4)
16.0
%
 
 
 
15.7
%
 
 
14.1
%
 
 
(1)
Days sales outstanding is calculated using net sales for the trailing four-quarter period. Days in inventory and days payable outstanding are calculated using cost of products sold for the trailing four-quarter period.
(2)
Trade allowances are recorded as a reduction of net sales per GAAP and reported in accrued expenses on the Condensed Consolidated Balance Sheets.
(3)
Adjusted working capital is defined as receivables (less trade allowance in accrued liabilities), plus inventories, less accounts payable. Average adjusted working capital is calculated using an average of the four-quarter end balances for each working capital component as of September 30, 2019, June 30, 2019 and September 30, 2018, respectively.
(4)
Average adjusted working capital divided by trailing four-quarter net sales.

Note 7 - Adoption of ASU 2017-17 - Presentation of Pension and Post Retirement Benefit Costs
The Company adopted ASU 2017-07 in the first quarter of fiscal 2019. Upon adoption, the Company retrospectively reclassified certain pension expenses and benefits from Cost of products sold and Selling, general and administrative expense to Other income, net. The adoption of ASU 2017-07 had no impact on earnings before income taxes. The following shows the adjustments to Earnings before income taxes and Adjusted operating income for the new accounting standard for the year ended September 30, 2018:
 
Year ended September 30,
2018
 
Adjustments for adoption of ASU 2017-07
 
Adjusted year ended September 30,
2018
 
 
 
 
 
 
Cost of products sold
$
1,197.6

 
$
3.9

 
$
1,201.5

Gross profit
1,036.8

 
(3.9
)
 
1,032.9

 
 
 
 
 
 
Selling, general and administrative expenses
392.2

 
2.9

 
395.1

Other expense (income), net
5.4

 
(6.8
)
 
(1.4
)
Earnings before income taxes
163.8

 

 
163.8

 
 
 
 
 
 
Adjusted operating income
$
322.1

 
$
(6.8
)
 
$
315.3




17
EX-101.SCH 3 epc-20191112.xsd XBRL TAXONOMY EXTENSION SCHEMA DOCUMENT 0001000 - Document - Document and Entity Information Document link:presentationLink link:calculationLink link:definitionLink EX-101.CAL 4 epc-20191112_cal.xml XBRL TAXONOMY EXTENSION CALCULATION LINKBASE DOCUMENT EX-101.DEF 5 epc-20191112_def.xml XBRL TAXONOMY EXTENSION DEFINITION LINKBASE DOCUMENT EX-101.LAB 6 epc-20191112_lab.xml XBRL TAXONOMY EXTENSION LABEL LINKBASE DOCUMENT Cover page. Document Information [Table] Document Information [Table] Document Information, Document [Axis] Document Information, Document [Axis] Document [Domain] Document [Domain] Document Information [Line Items] Document Information [Line Items] Document Type Document Type Document Period End Date Document Period End Date Entity Registrant Name Entity Registrant Name Entity Incorporation, State or Country Code Entity Incorporation, State or Country Code Entity File Number Entity File Number Entity Tax Identification Number Entity Tax Identification Number Entity Address, Address Line One Entity Address, Address Line One Entity Address, City or Town Entity Address, City or Town Entity Address, State or Province Entity Address, State or Province Entity Address, Postal Zip Code Entity Address, Postal Zip Code City Area Code City Area Code Local Phone Number Local Phone Number Title of 12(b) Security Title of 12(b) Security Trading Symbol Trading Symbol Security Exchange Name Security Exchange Name Written Communications Written Communications Soliciting Material Soliciting Material Pre-commencement Tender Offer Pre-commencement Tender Offer Pre-commencement Issuer Tender Offer Pre-commencement Issuer Tender Offer Entity Emerging Growth Company Entity Emerging Growth Company Entity Central Index Key Entity Central Index Key Amendment Flag Amendment Flag EX-101.PRE 7 epc-20191112_pre.xml XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE DOCUMENT GRAPHIC 8 edgewellexternallogoa01a18.jpg begin 644 edgewellexternallogoa01a18.jpg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end GRAPHIC 9 edgewellexternallogoa40.jpg begin 644 edgewellexternallogoa40.jpg M_]C_X 02D9)1@ ! 0$ 8 !@ #_VP!# (! 0(! 0(" @(" @(" P4# P,# M P8$! ,%!P8'!P<&!P<("0L)" @*" <'"@T*"@L,# P,!PD.#PT,#@L,# S_ MVP!# 0(" @,# P8# P8," <(# P,# P,# P,# P,# P,# P,# P,# P,# P, M# P,# P,# P,# P,# P,# P,# P,# S_P 1" !. +\# 2( A$! Q$!_\0 M'P 04! 0$! 0$ $" P0%!@<("0H+_\0 M1 @$# P($ P4% M! 0 %] 0(# 01!1(A,4$&$U%A!R)Q%#*!D:$((T*QP152T? D,V)R@@D* M%A<8&1HE)B7J#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6VM[BYNL+#Q,7& MQ\C)RM+3U-76U]C9VN'BX^3EYN?HZ>KQ\O/T]?;W^/GZ_\0 'P$ P$! 0$! M 0$! 0 $" P0%!@<("0H+_\0 M1$ @$"! 0#! <%! 0 0)W $" M Q$$!2$Q!A)!40=A<1,B,H$(%$*1H;'!"2,S4O 58G+1"A8D-.$E\1<8&1HF M)R@I*C4V-S@Y.D-$149'2$E*4U155E=865IC9&5F9VAI:G-T=79W>'EZ@H.$ MA8:'B(F*DI.4E9:7F)F:HJ.DI::GJ*FJLK.TM;:WN+FZPL/$Q<;'R,G*TM/4 MU=;7V-G:XN/DY>;GZ.GJ\O/T]?;W^/GZ_]H # ,! (1 Q$ /P#]%_CI^T1\ M:?BS^TMXI7X,+!-X?^!^P:KI\GW?%-W)GSK8#&6*() %!!#(6!W,@KZ0_94_ M:K\-?M;?#2/7M!D>WN[9A;ZIIX'[J0 \E3L)S_MCUJW^U7^RSXE^&/Q+D^- MWP3A6'QI;J6\0^'E!%KXLM@2>R M=TG:;[2;NI=-GIM^4Y-BLSHX=Y[&4JT:DI^UI;N"C.44Z2Z.$4E*'VTKKWM_ MK.BO*_V5?VJ?#/[6_P -(?$&@2O;W%NP@U/3)SBZTJX'6*0=>H.UL88>^0/5 M*^9K49T9NE55I+1IGZ9@L;0Q=".)PTE*$E=-;-?U]VS"BBBLSJ"BBB@ HHHH M **** "BBB@ HHHH **** "BBB@ HHHH **** /E?]LC]F?Q9I/Q+M?C=\(7 M2/XA:';?9]5TEA^Y\4V*X)A9>,RA5 7NP5,$,B5Z=^R9^UCX=_:Y^'"ZUHK- M9ZA9L+?5](N#BZTFY&08W'!()#;6QAAZ,&4>M5\0_P#!0WP%;?LC^*[?]H'P M+KFG^%O%OVB.SU;1IV*VOC)'89C\M>LV!N8@WQ!F^._P 1K^SU6;0[Z6P\.>%HBS6OA@QD'=*K#YICE&!(]'/.U8^- M?]J;2_V&?VS?V@M'T?3[C6[KQ/=:=Q-.*]ZRT7,DX)O^6_Q=$FD[:GY[7J85UZ>%[ZX$5[X M'\4:FLUW<0D@--9M@%2O6,DR*[V\NC MW;20D@$JQ2-E)&<':Q'H32_LI_L,W(\077Q.^-"V7B[XH>( )3%=1+/9^'H> MJ6\"'*AE!P6'3HI^\S^X'4?ATC%6F\&*5.,%[;(/IUKQ\=C,!-J&(3J3CHYQ M:BI>7PNZ6REHW]Q]=D649[24Z^ G##T9ZQHU(SJ."[Z5(\CENX)N,?6YQ?P( M_;_^$_[2GC%O#_@_Q7'J.LK"TZVLEG/:O(B_>*^:BAL9!(!SCGI7MEDOR/T#+88V%& MV/G&<[[PBXJW31RD[_/Y!17"ZO\ M#^%=$^.^C_#6;4&;QAKFGS:I!8QQ,^R MVBX,DCXVID@A03D[3Q7=5SGH!1110 4444 %%%% !116=XI\2V'@OPWJ&L:K M=0V.FZ7;27=W<2MA((HU+.Y/H%!- &C17D]Y^VI\/=+_ &8H_C!=ZM-:^!KB MW%Q#=RVDBS3 R&-%6'&\N[C 7&>><5V.G_%*PU+5K&TCM=4#:DBR6\QM6\EU M:-9 2PR%^5@/FQSQ0!T]%%% !1110!ROQ@^*ND_!/X8:YXMUN;R=+T"S>\G* M\LP4<*H[LS84#N6%?+?[*?P#\0?M=?$'3_CU\8(058"?P3X6.6M=%MB=T=Q( MIX>5@%=21Z.?X%3IO^"QEK=77[!_B1K=9'MX;ZPDOA'GF 7*9SCMN*FNI_:, M_;0\*_LP_!?0;S2X5U[6O$EI!%X3T&Q^:;5"Z+Y14*"1$ R98#T RQ KZ+ T MJL<(GA%>I5E*-^JBE%M+M>]V^R/SO/,3A:F;36:3Y\W8K\J/^"87_ 3L^%?[77P_\>:]XXT6]OM2 MT[Q;>6$$EOJ$MLHA"I( 0A )W._)K]5Z_)G_ ()N?L3ZU^TUX&\G117S479,_3F?;W[/_\ P2Y^#O[, MGQ1LO&'A#0]1L=>L(I889I=4GG0+*I1P49BIRI]*I?M%?\%1/A[\ ?B/-X+M M;'Q/XZ\86HS=Z5X8L/MLED< XE;( 8 C*C)'<"M/]GG]F'7OV// WCB^NOB3 MXR^)5Y?68N;1-?F,OV)X(Y2%CR[??+#/^Z*\D_X(4^&-/O/V5M6\:RA;SQ9X MN\07DFLZA)\UQ*RL-J,W7'S&3'K*32\V,\S^ '[3.D_M7_\ !9G0?$^CZ5KV MAQVW@RYTVYLM9MEMKN":/S&8% S<8=<'/X5]/_M ?\%)?!GP2^*CP^54*S?#Z0 MM@ $G=.,GUX%<+^SS^T'X5_X)[?MM_';1OC!<2^'[OQQK(UW2->FMGGAO+-G MF9%+1AF4?.,<8W*ZG!49IQ%>Q[1X"_X+'_"?QSXGTW0?[/\ '>EZ_?ZC#I-[?PI/;>(?%WC.YB$RZ M!XWD2$95I!D*F1R 3NQSMP-O ?@WX? M^*-;UKQ5<6VKW^OZK):WMF48LMNBJI(B 88Z9*X_@&#E07/L3]GC_@I/X#_: M,MO$UO86/B?1?$WA&QEU#4/#FJV @U-HHURS1)N*NMI-U<2VVR\@\F>*2-MK*Z9.#T(YZ,#7S7\+?V;?C9XW M_P""A/ACXO?$#PWX#\,V>DZ+%XR<'%\%@A*#OCS;4\?W34V3V#4^X_V9 MOVU/ O[6>L^*['P?>7EQ<>#[L6E]]HM_)$A+.HDBR?GC)C?#58\)_M>^$_'' M[3GB3X3Z:FK3^)?"5DM]J_9C^$DG_ 37 M_:K^![7S/:Z3\8/!_P#9&OO,WR0ZNN+C)SPN&>&,?\#K(^%FJ:M=?L+?M6_' MFT,D&K?$;5+JWL)UR)(K!9Q$60]@%N)%R.GE#TI\JN'-W/I7XA_\%B/ASX:\ M5ZIIOAOP_P"/OB';Z#(8]3U/PWI'VJPM"/O?O2RAL8/(&T]F(K;^,_[2WA'] MJW_@FQ\3O%O@O4&OM+F\,ZE!*DL9BGM)5MV+12H,_L.S_ M +1GPX_96\%V'P^^&WPAE\+SZ='>VUW/KTZ7%^95$AGF"K@2L3\PSQ]WH!4? M@;]EKQU^SG^QW^U5J'C;3_#VBGQS9WVKV6F:+=-<6EENMYS(%R 57+JH'HE% ME>P:L\]_:!_Y5\O G^]8_P#I9)7Z6?#3_DG7A_\ [!MM_P"BEK\T_P!H'_E7 MR\"?[UC_ .EDE?I9\-/^2=>'_P#L&VW_ **6E((FY1114E!1110!@^/? FE_ M$[P5JWAW6K5;S2M:MI+.[A;I)&ZD$9['G((Y!P:^>?V./^":^D_LS^-[KQ)K MFN7?C;7K'.G^'[J^W%=#TY/C,AP&+Q=+'8BFI5*5^5OI?RV=GJKWL]59A1117&>P%?GE\ M$/V"/VJOV8['7=-\ _$7X8Z5I.M:M-JLD5Q;27+M(^!DE[8D?*J# .*_0VBF MI6%8^9?V/OA_P"(/!JPS+=V.EZ?Y5S(Y0B,AO(3@/@G MYNE>4Z=^Q#\>OV,?B?XCNOV?]>\'ZAX%\5WC7S^'_$1D5=-E;^X5'( ^4,K ME50,IV@U]X44^89\9_ S]B7XM^'?VW--^-'Q,\:^%/$$D7A^>POH[*%[46#, M&"PP+L"F% +/@YX3\'?&3P/XN\1/.-<\4P MBU^T,A($%NTLB,\4(.P879\H*X)(K]-=;T>W\1:+=:?=*9+6^A>WF4$C>CJ5 M89[9!KXA^$W[)O[2G["MK>>&?A1KWP]\;?#^2ZEN=/L/$PGMKO3]YR5W1#!Y MY.&P3E@JY-%[DM&AX)_X*!?%CX*?&;P7X)^-OPFT?PAIGC:\32M(U30K]9K: M*=BJJK('<;=S(" RD!L@$ U9^*?[#'Q6^"'[0WB+XE?L\^)M!T\^,I/M&O\ MAC75;[#=SY+&6-E!P2S,V/E*EWP^UMHW? /[&GQ,^-GQR\,?$+X^>)O#MXW@ MB8WGA[PMX;@D33K.Y.,3S2R?/(ZE5('(RH^;&5/MW[1_Q/O/A1X4TF[LKW2] M-.H:Q!I\UYJ%NT\%K$X;_LM>'?VE+OXI2ZU\7M<\!VWA MM;"2W@T'08'9C.7C*S-*PSPJN,;B/GZ"N!_;/_X)BWG[3W[9O@?X@6MYI-KX M=LUM8O%-I/)(MQJ$=M.94"!4*MN4^6=S# KT>Y_:5\67NE^$0L=GI\FN2:H MKWD7AZ]U);R*UDC2&>*VC=98XY5?=ER<<AMI>K+'GR[J256-R5) .&DDD*G (X/!J2#XLZ_8_'.XT76I;? M1-+:Z:#3+>72)Y!K$0@\P/%>B3RA-N#YA9-VU#UZU0\/?&?Q=-H'A'Q=>-X? ME\.^,+^TMDTN"!UN[&*[<) _GERLCJ60R+Y:C&[!^7DN[6 ^=_ O[*O[4W[& M-C/X3^$_BKP+XR\ K-))I<'B821W>EJ[%BGR@ C)R=K%2?$3PC\3/%'A?5_&GC*UO+>PFL87AL-,CFMUBCA8A S*KAF+!2?F_BK1 M\,?M5:U?7L.FZG8Z;9ZE>^)Q8V+*K>5J&FF^DM'=/FR)HV3:XR0-T;8PW&_X M,_:57Q/^T?JWA(SZ*VF(9[33Q%+F^-U:B,W(D3<<(?,<(=H_X]I.N13Y@V/$ MOBE_P3N\8^-_^"7?AOX(VNK>&XO%&CFV,UY+),+%_+G:1MI$9?E6XRO6OKGP MCI,F@>%-+T^5E::RM(K=BGW2415)'?&16-\$/&]W\2/A)X?UZ_CMXKS5;-;B M9(05C4G.=H))Q]36!\&O&?BCXD:/I_BZ\OM!L_#>K127$6FI9N;BVARWEEKD MR[2^ "X\L <@=,U-P/2Z*^>_"G[8%WXL^&_Q"U:%O#\U[H.F2:[HR02^:#9, M)1"+E0Y(E#19=05X=.!0/VFO$'_"N/&&I6UUH>M+H-UIUK:ZM::5#R< @C [UTE !1110 4444 %%%% !1110 4444 %9OB'PAI_BI] M/:^@\\Z7>)?VWSLOES(&"MP1G&X\'(YK2HH YGQ[\(]%^)%]I]UJ2Z@MUI8E M6VGL]0GLI8EEV^8NZ%U)#;$X)_A%1:E\$_#>KVVH1W5C).=4CM([B1[F4RO] ME.;=@^[<'1OF#@AB>2375T4 A_L]>%/#OB*#4K6QN%:SG>[M+5KR9[*RF?=NDAMV8 MQ1L=S;)N#$@ M[CFNJHH Y7X<_!G0_A3N715U2&$Q^2MO-J=SWCC;3)M'98"80UI+LWQ'81D?NUP3R,<$9-+XC^"7AOQ4-:^V64 MI_X2 6WV\Q7,L1F:W8-"^58%74JHWC#$*H)( ZRB@#+\'^#[7P1I'V&SEU" 9:'S&DW7M]->29/7YY69L<=,X%:E%% '_V0$! end XML 10 epc8-k93019_htm.xml IDEA: XBRL DOCUMENT 0001096752 2019-11-12 2019-11-12 false 0001096752 8-K 2019-11-12 EDGEWELL PERSONAL CARE COMPANY MO 1-15401 43-1863181 6 Research Drive Shelton CT 06484 203 944-5500 Common Stock, par value $0.01 per share EPC NYSE false false false false false JSON 11 MetaLinks.json IDEA: XBRL DOCUMENT { "instance": { "epc8-k93019.htm": { "axisCustom": 0, "axisStandard": 0, "contextCount": 1, "dts": { "calculationLink": { "local": [ "epc-20191112_cal.xml" ] }, "definitionLink": { "local": [ "epc-20191112_def.xml" ], "remote": [ "http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-eedm-def-2019-01-31.xml", "http://xbrl.fasb.org/srt/2019/elts/srt-eedm1-def-2019-01-31.xml" ] }, "inline": { "local": [ "epc8-k93019.htm" ] }, "labelLink": { "local": [ "epc-20191112_lab.xml" ], "remote": [ "https://xbrl.sec.gov/dei/2019/dei-doc-2019-01-31.xml" ] }, "presentationLink": { "local": [ "epc-20191112_pre.xml" ] }, "referenceLink": { "remote": [ "https://xbrl.sec.gov/dei/2019/dei-ref-2019-01-31.xml" ] }, "schema": { "local": [ "epc-20191112.xsd" ], "remote": [ "http://xbrl.fasb.org/srt/2019/elts/srt-types-2019-01-31.xsd", "http://www.xbrl.org/2003/xbrl-instance-2003-12-31.xsd", "http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd", "http://www.xbrl.org/2003/xl-2003-12-31.xsd", "http://www.xbrl.org/2003/xlink-2003-12-31.xsd", "http://www.xbrl.org/dtr/type/numeric-2009-12-16.xsd", "http://www.xbrl.org/dtr/type/nonNumeric-2009-12-16.xsd", "http://www.xbrl.org/2006/ref-2006-02-27.xsd", "http://xbrl.fasb.org/srt/2019/elts/srt-2019-01-31.xsd", "http://www.xbrl.org/2005/xbrldt-2005.xsd", "http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd", "http://xbrl.fasb.org/us-gaap/2019/elts/us-roles-2019-01-31.xsd", "http://xbrl.fasb.org/srt/2019/elts/srt-roles-2019-01-31.xsd", "https://xbrl.sec.gov/country/2017/country-2017-01-31.xsd", "http://xbrl.fasb.org/us-gaap/2019/elts/us-types-2019-01-31.xsd", "http://www.xbrl.org/lrr/arcrole/factExplanatory-2009-12-16.xsd", "http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd", "http://www.xbrl.org/lrr/role/net-2009-12-16.xsd", "https://xbrl.sec.gov/currency/2019/currency-2019-01-31.xsd", "https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd", "https://xbrl.sec.gov/exch/2019/exch-2019-01-31.xsd", "http://xbrl.sec.gov/invest/2013/invest-2013-01-31.xsd", "http://xbrl.sec.gov/naics/2017/naics-2017-01-31.xsd", "http://xbrl.sec.gov/sic/2011/sic-2011-01-31.xsd", "https://xbrl.sec.gov/stpr/2018/stpr-2018-01-31.xsd", "http://www.xbrl.org/lrr/role/deprecated-2009-12-16.xsd" ] } }, "elementCount": 27, "entityCount": 1, "hidden": { "http://xbrl.sec.gov/dei/2019-01-31": 2, "total": 2 }, "keyCustom": 0, "keyStandard": 97, "memberCustom": 0, "memberStandard": 0, "nsprefix": "epc", "nsuri": "http://www.edgewell.com/20191112", "report": { "R1": { "firstAnchor": { "ancestors": [ "span", "div", "body", "html" ], "baseRef": "epc8-k93019.htm", "contextRef": "D2019Q4YTD", "decimals": null, "first": true, "lang": "en-US", "name": "dei:DocumentType", "reportCount": 1, "unique": true, "unitRef": null, "xsiNil": "false" }, "groupType": "document", "isDefault": "true", "longName": "0001000 - Document - Document and Entity Information Document", "role": "http://www.edgewell.com/role/DocumentAndEntityInformationDocument", "shortName": "Document and Entity Information Document", "subGroupType": "", "uniqueAnchor": { "ancestors": [ "span", "div", "body", "html" ], "baseRef": "epc8-k93019.htm", "contextRef": "D2019Q4YTD", "decimals": null, "first": true, "lang": "en-US", "name": "dei:DocumentType", "reportCount": 1, "unique": true, "unitRef": null, "xsiNil": "false" } } }, "segmentCount": 0, "tag": { "dei_AmendmentFlag": { "auth_ref": [], "lang": { "en-US": { "role": { "documentation": "Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.", "label": "Amendment Flag", "terseLabel": "Amendment Flag" } } }, "localname": "AmendmentFlag", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://www.edgewell.com/role/DocumentAndEntityInformationDocument" ], "xbrltype": "booleanItemType" }, "dei_CityAreaCode": { "auth_ref": [], "lang": { "en-US": { "role": { "documentation": "Area code of city", "label": "City Area Code", "terseLabel": "City Area Code" } } }, "localname": "CityAreaCode", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://www.edgewell.com/role/DocumentAndEntityInformationDocument" ], "xbrltype": "normalizedStringItemType" }, "dei_CoverAbstract": { "auth_ref": [], "lang": { "en-US": { "role": { "documentation": "Cover page.", "label": "Cover page." } } }, "localname": "CoverAbstract", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "xbrltype": "stringItemType" }, "dei_DocumentDomain": { "auth_ref": [], "lang": { "en-US": { "role": { "documentation": "Type of the document as assigned by the filer, corresponding to SEC document naming convention standards.", "label": "Document [Domain]", "terseLabel": "Document [Domain]" } } }, "localname": "DocumentDomain", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://www.edgewell.com/role/DocumentAndEntityInformationDocument" ], "xbrltype": "domainItemType" }, "dei_DocumentInformationDocumentAxis": { "auth_ref": [], "lang": { "en-US": { "role": { "documentation": "The axis of a table defines the relationship between the domain members or categories in the table and the line items or concepts that complete the table.", "label": "Document Information, Document [Axis]", "terseLabel": "Document Information, Document [Axis]" } } }, "localname": "DocumentInformationDocumentAxis", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://www.edgewell.com/role/DocumentAndEntityInformationDocument" ], "xbrltype": "stringItemType" }, "dei_DocumentInformationLineItems": { "auth_ref": [], "lang": { "en-US": { "role": { "documentation": "Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.", "label": "Document Information [Line Items]", "terseLabel": "Document Information [Line Items]" } } }, "localname": "DocumentInformationLineItems", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://www.edgewell.com/role/DocumentAndEntityInformationDocument" ], "xbrltype": "stringItemType" }, "dei_DocumentInformationTable": { "auth_ref": [], "lang": { "en-US": { "role": { "documentation": "Container to support the formal attachment of each official or unofficial, public or private document as part of a submission package.", "label": "Document Information [Table]", "terseLabel": "Document Information [Table]" } } }, "localname": "DocumentInformationTable", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://www.edgewell.com/role/DocumentAndEntityInformationDocument" ], "xbrltype": "stringItemType" }, "dei_DocumentPeriodEndDate": { "auth_ref": [], "lang": { "en-US": { "role": { "documentation": "The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented. If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD.", "label": "Document Period End Date", "terseLabel": "Document Period End Date" } } }, "localname": "DocumentPeriodEndDate", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://www.edgewell.com/role/DocumentAndEntityInformationDocument" ], "xbrltype": "dateItemType" }, "dei_DocumentType": { "auth_ref": [], "lang": { "en-US": { "role": { "documentation": "The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.", "label": "Document Type", "terseLabel": "Document Type" } } }, "localname": "DocumentType", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://www.edgewell.com/role/DocumentAndEntityInformationDocument" ], "xbrltype": "submissionTypeItemType" }, "dei_EntityAddressAddressLine1": { "auth_ref": [], "lang": { "en-US": { "role": { "documentation": "Address Line 1 such as Attn, Building Name, Street Name", "label": "Entity Address, Address Line One", "terseLabel": "Entity Address, Address Line One" } } }, "localname": "EntityAddressAddressLine1", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://www.edgewell.com/role/DocumentAndEntityInformationDocument" ], "xbrltype": "normalizedStringItemType" }, "dei_EntityAddressCityOrTown": { "auth_ref": [], "lang": { "en-US": { "role": { "documentation": "Name of the City or Town", "label": "Entity Address, City or Town", "terseLabel": "Entity Address, City or Town" } } }, "localname": "EntityAddressCityOrTown", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://www.edgewell.com/role/DocumentAndEntityInformationDocument" ], "xbrltype": "normalizedStringItemType" }, "dei_EntityAddressPostalZipCode": { "auth_ref": [], "lang": { "en-US": { "role": { "documentation": "Code for the postal or zip code", "label": "Entity Address, Postal Zip Code", "terseLabel": "Entity Address, Postal Zip Code" } } }, "localname": "EntityAddressPostalZipCode", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://www.edgewell.com/role/DocumentAndEntityInformationDocument" ], "xbrltype": "normalizedStringItemType" }, "dei_EntityAddressStateOrProvince": { "auth_ref": [], "lang": { "en-US": { "role": { "documentation": "Name of the state or province.", "label": "Entity Address, State or Province", "terseLabel": "Entity Address, State or Province" } } }, "localname": "EntityAddressStateOrProvince", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://www.edgewell.com/role/DocumentAndEntityInformationDocument" ], "xbrltype": "stateOrProvinceItemType" }, "dei_EntityCentralIndexKey": { "auth_ref": [ "r5" ], "lang": { "en-US": { "role": { "documentation": "A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.", "label": "Entity Central Index Key", "terseLabel": "Entity Central Index Key" } } }, "localname": "EntityCentralIndexKey", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://www.edgewell.com/role/DocumentAndEntityInformationDocument" ], "xbrltype": "centralIndexKeyItemType" }, "dei_EntityEmergingGrowthCompany": { "auth_ref": [ "r5" ], "lang": { "en-US": { "role": { "documentation": "Indicate if registrant meets the emerging growth company criteria.", "label": "Entity Emerging Growth Company", "terseLabel": "Entity Emerging Growth Company" } } }, "localname": "EntityEmergingGrowthCompany", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://www.edgewell.com/role/DocumentAndEntityInformationDocument" ], "xbrltype": "booleanItemType" }, "dei_EntityFileNumber": { "auth_ref": [], "lang": { "en-US": { "role": { "documentation": "Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.", "label": "Entity File Number", "terseLabel": "Entity File Number" } } }, "localname": "EntityFileNumber", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://www.edgewell.com/role/DocumentAndEntityInformationDocument" ], "xbrltype": "fileNumberItemType" }, "dei_EntityIncorporationStateCountryCode": { "auth_ref": [], "lang": { "en-US": { "role": { "documentation": "Two-character EDGAR code representing the state or country of incorporation.", "label": "Entity Incorporation, State or Country Code", "terseLabel": "Entity Incorporation, State or Country Code" } } }, "localname": "EntityIncorporationStateCountryCode", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://www.edgewell.com/role/DocumentAndEntityInformationDocument" ], "xbrltype": "edgarStateCountryItemType" }, "dei_EntityRegistrantName": { "auth_ref": [ "r5" ], "lang": { "en-US": { "role": { "documentation": "The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.", "label": "Entity Registrant Name", "terseLabel": "Entity Registrant Name" } } }, "localname": "EntityRegistrantName", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://www.edgewell.com/role/DocumentAndEntityInformationDocument" ], "xbrltype": "normalizedStringItemType" }, "dei_EntityTaxIdentificationNumber": { "auth_ref": [ "r5" ], "lang": { "en-US": { "role": { "documentation": "The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.", "label": "Entity Tax Identification Number", "terseLabel": "Entity Tax Identification Number" } } }, "localname": "EntityTaxIdentificationNumber", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://www.edgewell.com/role/DocumentAndEntityInformationDocument" ], "xbrltype": "employerIdItemType" }, "dei_LocalPhoneNumber": { "auth_ref": [], "lang": { "en-US": { "role": { "documentation": "Local phone number for entity.", "label": "Local Phone Number", "terseLabel": "Local Phone Number" } } }, "localname": "LocalPhoneNumber", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://www.edgewell.com/role/DocumentAndEntityInformationDocument" ], "xbrltype": "normalizedStringItemType" }, "dei_PreCommencementIssuerTenderOffer": { "auth_ref": [ "r2" ], "lang": { "en-US": { "role": { "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.", "label": "Pre-commencement Issuer Tender Offer", "terseLabel": "Pre-commencement Issuer Tender Offer" } } }, "localname": "PreCommencementIssuerTenderOffer", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://www.edgewell.com/role/DocumentAndEntityInformationDocument" ], "xbrltype": "booleanItemType" }, "dei_PreCommencementTenderOffer": { "auth_ref": [ "r3" ], "lang": { "en-US": { "role": { "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.", "label": "Pre-commencement Tender Offer", "terseLabel": "Pre-commencement Tender Offer" } } }, "localname": "PreCommencementTenderOffer", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://www.edgewell.com/role/DocumentAndEntityInformationDocument" ], "xbrltype": "booleanItemType" }, "dei_Security12bTitle": { "auth_ref": [ "r0" ], "lang": { "en-US": { "role": { "documentation": "Title of a 12(b) registered security.", "label": "Title of 12(b) Security", "terseLabel": "Title of 12(b) Security" } } }, "localname": "Security12bTitle", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://www.edgewell.com/role/DocumentAndEntityInformationDocument" ], "xbrltype": "securityTitleItemType" }, "dei_SecurityExchangeName": { "auth_ref": [ "r1" ], "lang": { "en-US": { "role": { "documentation": "Name of the Exchange on which a security is registered.", "label": "Security Exchange Name", "terseLabel": "Security Exchange Name" } } }, "localname": "SecurityExchangeName", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://www.edgewell.com/role/DocumentAndEntityInformationDocument" ], "xbrltype": "edgarExchangeCodeItemType" }, "dei_SolicitingMaterial": { "auth_ref": [ "r4" ], "lang": { "en-US": { "role": { "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.", "label": "Soliciting Material", "terseLabel": "Soliciting Material" } } }, "localname": "SolicitingMaterial", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://www.edgewell.com/role/DocumentAndEntityInformationDocument" ], "xbrltype": "booleanItemType" }, "dei_TradingSymbol": { "auth_ref": [], "lang": { "en-US": { "role": { "documentation": "Trading symbol of an instrument as listed on an exchange.", "label": "Trading Symbol", "terseLabel": "Trading Symbol" } } }, "localname": "TradingSymbol", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://www.edgewell.com/role/DocumentAndEntityInformationDocument" ], "xbrltype": "tradingSymbolItemType" }, "dei_WrittenCommunications": { "auth_ref": [ "r6" ], "lang": { "en-US": { "role": { "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.", "label": "Written Communications", "terseLabel": "Written Communications" } } }, "localname": "WrittenCommunications", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://www.edgewell.com/role/DocumentAndEntityInformationDocument" ], "xbrltype": "booleanItemType" } }, "unitCount": 0 } }, "std_ref": { "r0": { "Name": "Exchange Act", "Number": "240", "Publisher": "SEC", "Section": "12", "Subsection": "b" }, "r1": { "Name": "Exchange Act", "Number": "240", "Publisher": "SEC", "Section": "12", "Subsection": "d1-1" }, "r2": { "Name": "Exchange Act", "Number": "240", "Publisher": "SEC", "Section": "13e", "Subsection": "4c" }, "r3": { "Name": "Exchange Act", "Number": "240", "Publisher": "SEC", "Section": "14d", "Subsection": "2b" }, "r4": { "Name": "Exchange Act", "Number": "240", "Publisher": "SEC", "Section": "14a", "Subsection": "12" }, "r5": { "Name": "Regulation 12B", "Number": "240", "Publisher": "SEC", "Section": "12", "Subsection": "b-2" }, "r6": { "Name": "Securities Act", "Number": "230", "Publisher": "SEC", "Section": "425" } }, "version": "2.1" } XML 12 FilingSummary.xml IDEA: XBRL DOCUMENT 3.19.3 html 1 97 1 false 0 0 false 0 false false R1.htm 0001000 - Document - Document and Entity Information Document Sheet http://www.edgewell.com/role/DocumentAndEntityInformationDocument Document and Entity Information Document Cover 1 false false All Reports Book All Reports epc8-k93019.htm epc-20191112.xsd epc-20191112_cal.xml epc-20191112_def.xml epc-20191112_lab.xml epc-20191112_pre.xml epcexhibit99193019.htm edgewellexternallogoa40.jpg http://xbrl.sec.gov/dei/2019-01-31 true true XML 13 Show.js IDEA: XBRL DOCUMENT // Edgar(tm) Renderer was created by staff of the U.S. Securities and Exchange Commission. Data and content created by government employees within the scope of their employment are not subject to domestic copyright protection. 17 U.S.C. 105. var Show={};Show.LastAR=null,Show.showAR=function(a,r,w){if(Show.LastAR)Show.hideAR();var e=a;while(e&&e.nodeName!='TABLE')e=e.nextSibling;if(!e||e.nodeName!='TABLE'){var ref=((window)?w.document:document).getElementById(r);if(ref){e=ref.cloneNode(!0); e.removeAttribute('id');a.parentNode.appendChild(e)}} if(e)e.style.display='block';Show.LastAR=e};Show.hideAR=function(){Show.LastAR.style.display='none'};Show.toggleNext=function(a){var e=a;while(e.nodeName!='DIV')e=e.nextSibling;if(!e.style){}else if(!e.style.display){}else{var d,p_;if(e.style.display=='none'){d='block';p='-'}else{d='none';p='+'} e.style.display=d;if(a.textContent){a.textContent=p+a.textContent.substring(1)}else{a.innerText=p+a.innerText.substring(1)}}} ZIP 14 0001096752-19-000033-xbrl.zip IDEA: XBRL DOCUMENT begin 644 0001096752-19-000033-xbrl.zip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

$%DA883)HOZ;A@G/J\#Q*KV+8!Y&#!/P[_N M!='L7O3]41%<\7Q ="STE2%WK'(Y+(=?XI*YJ>J$$#_'QT^C.S8!2'.WNV>8 M#HHC(PF1$P8^@K$5M6WBP..^,]+O<9_36#'65\*UN&UH!9_P]E?@0./)'ZP'A4I,)U.'XK%/5VS-(ICVPQ,%X;, M0I;OQ-AI?W'.-7V$>2TA5[UG32Q"@=54_)J01+;;$_W3$A.%("@=HMB(H,,4 M:K@.KPK%_%37Q!'84=!)/LHKMFGY*V,++\\FJ3;0A.,7A0K#W<+8$SXQ<T^5Z[*G)$4CWFC?NIDGU&,= M":S"[NF7J**!1&#V(*(U-GPZDD=Z=%)2&$JWFE3Y\-^!&4])>:N[%MBWXFR1R/7K6TN(^PC8;F(<#BW2B MMV!*8MSMHGT1%-.0)#Q]]V!N!-+A'AT(#Z\=+:-8NPU3!Q5^V6"FMC*;G#&M M/?V'/*>&;]IF9/A6C'T[L2)D>^WK/!ZT+.X7:^6J[T0-BJ$%E@QR(/Z?QKVE CP2.,@&V#QO56*)EDMRET(P/Y M41B$?N)@,XE"J[U_Q MQQ/WQZ&)5>Q;$,@RHT_!K01#-;AWT1T5, YQ ="S^ ME2%W+'HY+(=?[)*YJ>J$>+NX7_\ S]FCS^_:9_+Y?R[[^=W_ 5!+ P04 M" B2&Q/2LZ%S D' 5/P % &5P8RTR,#$Y,3$Q,E]P&ULY9M; M;]NX$L??^RF\WF?'O$B\%$T7O$B+X*1MT&31Q7D1%)EQA,J202F-\^T/Y5AN M$E^:1E)PX+S8CCRD9O[\>4B.F ]_+6;9X(>Q95KDQT-X!(8#DR?%),VGQ\-_ MSD?B7)V<#/_Z^.[#'Z/1O_+KZ4 7R)*;\/KFPQ M&WPK[/?T1SP:W3<:+#]D:?[]??UR&9=FL"C3]V5R;6;Q:9'$U?+>UU4U?S\> MW][>'BTN;794V.D8 8#'ZU8[+>J_1HW9J+XT@FB$X=&BG P'+L*\7-[[&3=I MS!<;]K=X:0TYY^/EMVO3,MUFZ+J%XW\_G9XOXQRE>5G%>6*&']\-!O=RV"(S M7\W5H'[_Y^O)HT[,9&IN398=)<5L7!N,&]U%/@GR*JWN3O*KPLZ6ZC7?.9>6 M/5];^S>MG:9M8^:U8/)Z\&$9!G!MMXZ]O2SJ;IU]FF''?M[9FQ:N/'L6.+M MW?;B^WD5VXXUW]5QQ_Y?N,1INO5\L\NN?2ZJ..O8YXTNN_/Y!6!4FVX^DX*Y M-:7+@.HNK.SK?CO,SO>W-XO*Y!,S64X(C0-9D6Q$6KJ;+L,L37(T+7Z, M)R8=UWF]_K!,\", 5[/=G^Y2I HWH8O+LK)QLKYI5@MP/'0WB#9L(N;AT(?, M#T,4:B^0D$'@,0!\08 20C_V/*OG[,*NE.O4]4:J!^I=Q)?U*&V-8I=YI"!F M).24@B#L,F@L!-CW1II.'#?7!EK5_/0GE7%$HUJ MXQ<=VV0#J<<-5Q;C>6R="Z/D.LTF3>MZD=5Z((O.170NOQ(1Z]_:(BV?#\;# M5I'O@P!([K2A'&.%G5Z\" W!M%C"!( M$=& "(UQ(#&6:\<#HN!!\_"R(=R"Q8O$?+V\X69T]ZPI<@D$XSQDLU[1F4"W>37X!1FT349PIAY7,6 M,JDP#'08K)VF(CCH5/&"L=L"PPMT['GPU[M=[?8SOZ#@D6T$I.9($:8)D,!3 M(0NX6H7A8XG#@\X+W>#01M">N+C?PWTUT[1>6.?5YWBV"XMMIA'@!&G, DT) M9((YYYT*JR H4*0%%?C J>A SUZA.,F3PLX+NPSUW V/4<5-7MD[54SV,[*W M9>1)!1%1B 2 4Z0\RH77A @H$"V0\=X$,EW*VRM!89J9SS>S2V/WXO+3+-(2 MN;G1(W[ A0XD50%J5EX^#TB;-8?_)MAXL9:]@G 1+TXF+MCT*KU_"O8,*G:T MB1!CA(<\#!E6 55:2]]?AX4P:($(>1.(="-LK[R(R<2-4+EZJX.&>UG98A]Q M3S$%)0@P(2P,A ^785#E+O4@A/Z)CAI+^IK,*+@SN!%+>9:MA;XN/%DKX&'FGF+:9<"!X2Z2TD;4G3NHD)ZR)]Y#QT"1R*VZ!H4^E'Q(@!?0# MVCP9(#YFL@T+AUX\;2%D3Z-?G]W+SJZ+?/]N]JE91'V"(54L @@A14."/GI MO->F9 H/O6;:4LR>2#@WR8UU?$)T>9%6.X]K/#6+0LX%4,Y7 25A'@LU:\IZ M!"F_%0F'7B=M*69/)%S8N#X[?'XWNRRR'1@\LHD\B@5T,7H2,*&1!+X,5VY3 M&82\#0.'7OALHV3/J2!8)-=Q/C5[GIQL,XT8@#X)- @E\:7@! =(-T$$@K6I M8\%#KW5V(&A/5'QS;E4F5\5L=I.OZFN[CF%LM8UT$'A0N.VR=%0C[@?*;QX+ M4LB):L/%H1BVSM9P]\7!F38VIR1.S/"E2'Y&V7ZZN=NXN=C>($$5$PW:'@ ^]EMF9K*_#R4E9WAC[V[1L-(L #DD(A1=HJ;G2$#/4 ME-\H=9?:,'/H=VUMAG,C)VZ[/>W+6ZK:^?V/,[O]A8WM[:(ZAJU^9Q"7H;U5BMG%VXCA>_,?LA^2);00X]* & M' 6*>R'2Q&/-&HMAA-JL6M&A%SR[4+0G,(0+=%('&V;Q= <0CVPB3#4@7$LA M>>@K&&J)FN(,DTJW.CY^Z#7/-DK^!.##>$-$Y];WC^]67]0O]7^ ?WSW/U!+ M P04 " B2&Q/ZRJEPOX7 ",G #P &5P8S@M:SDS,#$Y+FAT;>U= MZW/;1I+_O/DKYKBWMW:5*.)) K+L+9 $LKHXLDY2*MG[1T]//W[=,X"._W&SB,@5R_(PB=]WU$.E0UCL M)T$8S]YW?KGTNE;G'Q]^./Z/;O>WX?E',D[\Y8+%!1EEC!8L(-=A,2>_!BS_ M3*99LB"_)MGG\(IVNV6G],BV H6:)E.I;QMJ7Z?JI$\-VC=U:JB6/3VX.5*F M:C"PF:XQU3;ZYH128SJE?7MJ,-70U7X]V'IVOYI]F0.?U?1DU6R4I+=9.)L7 M1%-4NV:II,\+6"^L.<[?=^9%D1[U>M?7UX?7^F&2S7JJ;=N]&VS3*1L=Y?Z< M!4G8G;(@3@JVZC2E^81W"<*\=Z=1#Z?M*FI75^MAIGDWC N6L;P0#]%H(.B> M3]-N.$FVN^;%HE<1)=WRMFZYN%OH=_,B6'6[F6318<[\PUERU:N(V$V]TZU( MLY9^%;7^#P>P-@?PEUD&RG?;A2V6#W2WE6 !$:-B*0-!T-PO)I&X/5($'69+ MFHD[($70(5N*FV=+D?A14C2*6N0(U/H_@1QAE;ET_;E$3_PH8RV:PLF"KB%- M0O%<2!'-!782Q@+^^$PE4;1'R3(NLEVJL=D(AQD(AVGM+NC&K3.7*%5%%# = MT]#/Q7-QDHA!7^)C@" 2?WPED7Y\)6.H788;300,YMEFY_7^93)SY"J+([8K M==6B1;%7S=J]3-6BQ=/4#CL,J613FRT$2UKF79KY61(Q@28WB(*N@>^GB636 MDB;HQ%)_(UZQ8,:N610=^LF"-U=556N:6#X1F&5M8D 4KVE&:;JQ2\TUU431 M#OO3;B[2"9R0TT0FS?S(IY&ORYSOBBZ2(@O;5:K10-@]S9B/&&)#K'P$G%]3 M%+M7;6)OW7C3CJ1SK\@"^\DD]IV)S!MMJKA-14JV(HG"#8,6LFG*Y0D01W91F IB[U42L M\,)96TU8;;%AB0&#%+HR2RQI4N@B8G %742,LL7ODB"-%-$\P$"^3!LN?XL_ M3A;-]<* M 'F09Y83D5I"1)?C%REXD>0]@2CK83)ORH3>M(G>Y>%DLY'(>57(+4G\ZW9L MARTDN$2.2$3A-I5H!A"$8*FMKNL"KW( O_RPO?"'U;C9P-]W:R@CD99B) M)(!-1)$+ZTKM.>*Z@:#XA("K/35LMI![ZU86-ML(Y)OYDB4#0>0X9'Y#J/O3 MM+OT6XLTG"QRQ$M)C08(XA I#8\BT)R*!ZLJ:<+JSY2A]3.IZ*NT>-5PQ:,T=9NC86[V^9&42IQ8+G1I$8CF6 MJ*FB !A.KV1% "2)4RVPL1N)X==425P15:AJ\8DK5,#[U1_R=5W](2TW"=*Z M=;%)E-;Q,-..MMN0=AO"%B!K&:H2HZDY\V6)(I)$6YOX,FP)%&%D%$2-,B0* MTQL\!6F#7.*C^##V"WHC63JG"3JEJ:0@!H06Q[JSYB+V".$-P#"V>3RUWLZZ M>-@K,AKGTR1;\/HOCF-V%6N#C5@2'BTJD!)3>]@%I2&>RTR"@B'2.2JK. M0!#OGG37!+M5A#)D4E-$>:G/), .*2V1E:&VGR5A+#D%$;<3126)2Q$>$^2B M>C_W#N)*/SK8]AQ S%08B) 7W]I G!B5YPVM.71)EYAI:TE'7,ZYB<36R?.& MWSXVZE09FR62Z,I)DC3!CV174$JBT$]*2I_U&;RHTM%6YQ#GRC,F\X.LIF.X["*WP\:YZA,5E1211?<;C@3M"O1C=[);'SX8>_',\9#>#W M7XX7K* $6W?QW K2\E$2%[B$2TBP.L0O/[WO%.RFZ)4W]GJ\8Q$6$?M07Q4\ M[I6?8>A>-?;Q) EN25[<1K [4QBG.Z6+,+H]N@P7+">G[)J<)PL:O^.T//PW M.U*5M'@'_!T'X57=$Y::1O06$T+6^7 FML5U;W,35JEN_N$8"W>\UK"@L S"J]Y'4QH,K.:KOZ@$4TMQ);9>PZ3 L5Q]..8_*)=@ M/NKWQZ;N#-2!INL#$_1B7&G'4+>'GH/;1##F//T'BB3ELQDOKW^>9_.?R8U4^7/S1"([B:H[[MC;65_'*&6G-(%G#DP:8V0ZJ@M6TU MWFDG/W[-/YY7/C[FR9Y4L:%Z1(R 7SL>)"5)TD&5'--\'; MY\9N,B7%G"&G2^@00M[@0HY%XQDCCE\0(*NV;KRJX;;D$ ^B?#*6)EE!W@35 M9T8!#+*\(.P*'_$JR2QX>T0>X;TD.Q!Y_#,.?]T2%TM=_T:6AA):0+MY0&]O M04PL[GPX3:[88@)Y@:H=\,?<9"Y_\]>7BW!? >";Z30,,<>,8IX]NG^XF)$\ M\R%?K![#@$8LBVD4);.$&LKA[RDD[S0J=K2H)JWFL_7TYMUU&!3S(TVSX-^8 MPL!47RIJK2'J=M76U95J]PW=A&1RK-GCH3.P1Y:G:[5J&X9B;6?\YVP6YE@R M+TZ!\F!0P[D4Z)L[_M']U?WXD9RYYQ>?3IV/9.2<\VS@S#G]U][PCFSZ/:G[ MMP?(C^) () W[@WH!]_]THO7NTYH3O*4^5AQ"$@8D[#("81$<.+9GL-WHW]* M WQ6N1NQ:7&D@-'P_F&,M0_^N3E!C$XU>E?W*9(4O0HWM().(D9\L-2*^KZC M=/AG# WUYX<7#1'YK;S/(G]) / PT\:+PH(^*/RT'64 M!/=#"7@&B]6Y@J59]K?XWW!N[ -#3' M& Y5@'Q.WQD-UAF^Z0F"HA=&#(8%H"8/B&I7-0U%?=VBQV_1VO1&[M!Q76^@ MNGU%=0:.KCK]U199AKV]19?TYJ2JE)?/INW:+T/OJE9?5ZT';-F+5!6.;V@!W"IM/CS;(9C<-_\\]O7ZCB[TUXHV2Q .^-HD$O M0DJU_.[%6'YJ]C'MCM( M:WVJ.G9U/"1T''O@J+8Y<+7!ZE1UJ"CJMH-T@B!C>5[]^@@Y^< MLYS1S)^3<19>L?W5KR43'MR_M*_:ZW3852 !UM7!6'==RS1MQ_96E9Z!I1A2 MJ8W@GY^RR^0ZWIO,+N8L*I+X>8EJK6".Y3JN8_8'KJ%[FC6$4*G4HE+M@2(5 M%8\6G[(S@*\AOY3^:-3[0(&.DCC&BK._+)Y7*2QX)5-/';K#OMFW=76D MCX?:R%0]PU(4S3(4=] 7)!253,\2$$[TOV':FD<\5&!*W[",KR>J9U+XJ$2* MR"7-0$/#E$:$W3!0&_!<\#4$(98_KM3!D_IFZ<+ N >PLU__142F'?;/[]R M!-)48ZW,QD@UT93,;I7]=44_T]'!L#7+M-1:-..^OB&:CPD O;-Y$N],,!\H'MLPNJ:I*-^= M@:\KV'_/2<$BEJ)T2X#I2K1$T$LH:"1(.V![JFM^^^IP[5]>*ZN/JZP. MY-53S6RIK%K/I++Z!*F.P,(N\2IN>=8+@-^/:)X_DW3VZZS_HDC\SR2_7<#G M[VKAI]5I$=]W5E^4@'3]>A["-^4A$LM8\-Q*9T]3 MB-"Y5;4)MS4Y)L#J$LB?:^0!26E&KFBT9.0_E4-% M)2E>.)Y#F'O>1>EOM3O]-9BUO-%X-+0' T]3/[9Z%7L0K$WC$('N?=!R'W-=/JJ->RO'W,86YHJ,HKZ@E;K]82MX@)Z MJ[JN@%CD7TGVN32;U8VO!QX#?$$9DB.4M>CL=EG_"IN(&YEO=WD8V 8[W88 MWH.73\@C[AJ6ZENM#Q;47"!)&[=:SY< ?@W-K+3LSO51O#7Z1AV0D7=.-%TY MA(8/R"[_A(IF6>LS"TW1#<4=>HJG.(YGF_;8656,-&7C9OU%$H4^B#2>_0P. M!+R(/-*^/"U;+XXLJM5MJYAJT*ZJ-;1LXV;R2L<,Y;!L^7VKF3U8J9G:]P:6 MJ^KCX7#L6-K8&@Q76$X;#+VFFIUE#'T9/N_'G^/ ")1]FDY;ZG O3]U@D5V_ MLWEZ):NK'5K:&NFK@[[ W>H#BU==P?ZZNJ0 MIFS&RCNZ=9+G2Y:]:EBI83KK&F_\^VE8U?8+CF2^&-8^OD:[G_E/X@"%"4CZ MEO@<8B\H)##7<\:OY-S!OX"F87C8":RDSL@L2ZZ+.>Y)BIB8YB1@4V"97^\M MX8QBDNU'8=9/P.CD#9XW#=YQ2%,W#OG%X!0O!N.UGW)CM4E7$XPE>JQF-2AN M\KI?8]C#?8C\!1;%]U3Q-G=6O+66BG?+-6.CA::I]QKRN=0#]V.?KMC6GE^E M1V(;3Q$V]<:!J.Z,S;YG>0,58Y*<3YQQ/S& MNY3 5-,HN:Y>>+&_:P.OZ_O3K>_K5B"?'!4]7$ 5+)JV !T\ZA>BIG"K8#@' M3,0BYN,?(XP3#E.7.>.M\(F_LBR)KY$+><6Q?/<).AT^5W2+D_,_H8CX*H:H M#I2,784Y] .D16,?4WSJ\U?P86-\8VY LR O"Y(X?BI\K2'Y@@O\)'0 MH/&.&<-P7$7U^B/-]71CH)NC?GG*X-DC$ 6_%_#RWC'3]%CMI?S]'0"?%&Q! MM$-%P_N^RZC@M^@^@3E4>1XH-?%6^CY*P/Z0\ 8_^2KZGSXA-?+[SQV?4#< MZ@E?08D$V'Q *]HN7"3.&?Y.1@0!B,'%$ M_DV[!ZDDI9#@^ZR2''J/D/]>9N Y_ECR1RQYXVF80\0B^) X*9W/!8-\B'.L M*R7'A^02,Z7-Z>&+Z3*+PWR.O&'6-0\G84%L^U E^(Y:\"TXP?J1#6B'WT,B M"#YR]>ZKY[5AER#Z,%Z]P9.#0%KGKSQ?'/$7Y1>@E?QE!/BL17W 5!885HK; MO/_%3ZG\*EK@%TUQ': P)XSOY$JD31^]M@6P@=5T*-U\#LB3QY$)@U0;PA,_ MU((/G6D8X9OW<.]AK#3)&3>AE;^W[IDZ'^#NTD6I'*5N-IMUWAZLGM>YABA$ M\N7D=Y@#V<#&^)=APJ@[47<^4/EO2&V#0UMJB:>$R8\SE8G M@=)CF*ITT105E\K=6'JP*J,L: !8@<'2^>-./*[PYOSE%F@GR?0 +[Z -?+G MI#G'$P0)W [QJ)(5N+M@T,!T]1RUO\$][(4/0*%B_PLL[6D"43-P*HIB]9WQ MV!J;NCONC\>*6MY9\3S%&EC:W!>5L7OLL@83S*EPN :K=/ M%\1LO!^S#E7\H06L7)8QK%+,?*_UIP?OSIO@[6-A7OD1FQ^%!7#E8XVB6M2C MD>/AXV[Z[JWD\'I/]JO87/5I]?B>_);D3R.0+F5\^^'O%0A'JR MMC9\DO&9U">^M43&+/>S,,7OOXO[H8AJGM_62[PQW6@JW$%P$$EV]%< !8KG M;89K5BK[NPY9O8"W^LJV 8-ANC(O%H\1XAG/;\ZK_ 8@W8X\K/,Q]?R7U"Z/]G M+0)Z@X&E&X[KJ=[ M^@C.+8)E=$M\NL2S!EZ=J=[( M65:</J$^TR7$S MQO2-_90Q[OERP0]"QSQ\5V/E3_RP'+[YQ=4#C8WP;+WLPG;,GIN'([F(9LV2E2?^(L)LI=4@OE* MGA5?P1L<;4.V9\?H]X:Y3+PIJ^G#H3:VC*%A>6KY]MFA8FBJYXU?)N;:WI>O M5KIV?_OGR?#DDIR&AI8FET.3DQ.3,P,3DN:'1M[+UI<]M(LB[\^=Y?49?=[I$C M*!H =WFZXZ4EV:.Y;MEC:6Y'?SI1!(HBQB# QB)9\^O?S"H !$AJ T&Q -0Y M,6Z1Q%++DUFYY]__S]F7T^L_OYZ3>;APR-=_?_A\<4I:Q^_>_=$]???N[/J, M_./Z]\^DU]%T&Q[/Z,)V[D^N[04+R"6[(]^\ M!77?\]\"^[_L1->6X7L3/K&Q\%P<-8=C[7! M66\RFGP8G(_[$[WUV]_?4?@?OROY)WFS8[OL>,YP&B>ZH;UY'[(?X3%U[!OW MQ(1E8'YV #H?P-_QFVU#M]TY\^UPRQU3'P: 7V?&H8:0W1/^VY/C6E++ C@> M3[TP]!8G@^6/]*O06_+/F:%S=&X"Z"4CQSOXQSLQBJGG6/"(7W[J&N]_^4D? M:.K?%_\;,P4R'G?TYT/R(%O_4KIYV2 W22M^9^85R>T.FX4G6G*_[5IP+_^< M'8/K^0OJY%ZIXS7PR)!.'49,YCCQK[^VM!;_'"RIF7Q^.3]>4/_&=L7P:!1Z MR1=\ \0W=[85SD]@M\=:7^MVC>ZH.QCTAV_>3SW?8OZQZ3D.70;L)/DCNT;X M8#Y^V(;0(G )C-?]M64@6P\M_,=/?XV'+U[8-]Z\3RY:_ZTW6OVVY0&WS ]M MDSKQ&,1NOL]MA;&VM=G/\>YGOQ++88B]X#"R%SP#S!GYL,I M[G@W'M5TJH\Z_UG>M AUPJXV X@A>)F>KC^*4QQ\VOQOXGFKRI?-H$ M*'C^R4\C#?\?[C^/EXA\97Z XA YI3X#,64!@+E_D(;W/[ !^<8"1GUS3LY\ M^Y8=<"A7<^:$GMN&57%=H@UZH][:B7PPBMBR")SV]W%\?_SRC5S\_OOYV<7D M^IQ\._]\/KDZW[(0]2"4+0L0$P7"(*1F*!L&/'C5S/'N3N:V!0==&>>X$#UD MW>/<2WHH)I0PY=.Y;P?DDQ?=S)_/(A&WW');D.C>E)$ M1?B.O'3$@QTDY.3USQ&'=^=W#\@&$]?U(M<$^?:C%_GAG/PKHCZ,@5#7 M(A_M )B!,&[ 1XY84!DGR>.^ZOOW0*=!=]+F4XYIW2)."I1;."7G]@A/-C>J87,+)M9@"@'2C+9!S3!Z72\G1 MY9]7YR?D_.OI6Q)Z%KT'\ E46L2/83<#5FGS_W*4SL3&_A6#E;\'=WX6P5OB M'^]QUQFHB1:Y8LM0C*JKM5=7+P5.+/'D%!J>@ 9_YRPA 4/KD'+ 7V>T9+'! MWV QT_/Y 7<2P5;X."[D1C^8&86@"9"K: 'Z\IIR\B)5?2L[?T!U)YO3W*8X M]T:QQBC$HV<+A#"$UN/;L/;^O&C5$V\M(-F-#&/P(M$.1OK^B:'N ;*7#*ZG M#FS)'0,&D SXQ<_YN6^,.AJ!BQQ 5N''^#;R*,[QX FW.X(HOL-'6 M>WI92XR,E*\QL8.Z[GPTO9(5_\&^K:)G'SL+6\.[?XD+7.>,V0HV3EIC0 !8S],)T(Y3&\3"RD#:MNAF3F>PO^ M[3^I^9U\@],"5RXX",$1 :!"P,!-#QLA#]@$*9 M K+-OL",?)^YYCU9H' "LF?0>?N4,J&.H'H>09\FDZ_DS'8B].R>4]^%N0MMR1%=?Y)YU!Z<6GS%ZB4"PMT-V[("TB5^$U+VQD;8%_X!;A&'L MYU%G/.0W41>7<:2)]Y+,>S?6%5C;DKD!"T YF%C_B0*.JJ]7N^-D-"AI@?/X MW4TJ@,-B5/9AH1AQ,QDQZ@*4N&:B(0/-"9?0NG/TI;-" _ZV,]D4+; MY&YNFW."SK\[)D[]Q(@ XAM(<9')N#*/$IO%IB%Q&$R6WC#"E5"\RNB,2(A0 M4,AK*/*N,[ QX4?;C83\O_2]&Y_!X8@06GI^./,%J,J=HJJ+F'!Z$J@T_<]"\0>&!7.3$YP=H T/07K@S"E]Q6R4@E5O#IAAF M!B_O$(5+A(4J+M3VQ77\IO_07W_'I=('[X/$@;+=;8E"#GB 29(C,!78T.)[0=A MUDX"RP8/I[']@5M*GT+P+H;*O,MI5([+249;:L[RGD>'SY [!<+D[?D,SE'X ME-C*86LIX7H._GX)8C+_P'5QH0C,*5X-&#-MAV4N29Z UR16\!A "P]VW;+A MKM"YCPU0G _Q&Q>,!A'<31!TOH"*C>]PT,0#PO$58ZO7K+PPOR?WH5Q(X25H M7F$AY<,"" *:8Z:[T@@2[NJY7(NYI;[M1<'JZ3" 14"B@$O[Z^.8 <6@[<# M?,"VRPBR8TXAUBWE_AC0)N"=P&S8C6T*_*W\)E/4 MB^ Y@#+8TSE=QC>D1REN(_J]Q9KC3U,8@"4 Y\(Y=.-[=[#NWA)OB5PN!@K( MWC 7)42X,\L(341E0&]1B6_#F4=M"\XRBWRVP]!A[70>"8-;N>#Y0T_G-IN1 ME3/BRVQFF\SO$'YF:.^_P @SDFENM@FM^&SFH#K(%553P/).8"BDW[F0X,%L M7>\61M\F%L8_P1Q@"@ !*YDQ/CL +=.Q9_?\42MQX(P%2U!@^;?F'&1?!@JL M8.5+%@HQ@[FWMN^Y"QY; &]?L#!FULEP0^K?H+H+/X+:"SPBWFUZXXD%AI?# MFL.Z GG'. ^012"W<&9(:>*!*>CYBRR&>C7:3_&K8PQ;.>;/AIQ?)G\4(;*U>%[Q[]Q?B6,W['@*HN+W8VY=.*'.';T/DI!("2+2U1 * MQ>67<^;G?>M?4Q7D.J>"2'6J3$!5\MDMGL%.QG._XKUQOWD,:$G<0 MQQ)H>C,WY0FIE64DUK\%H$29<*!?)Y9_P7M1- +.C'P"7K.T;SV0GV ^;(GG MVAWU^0D6/5C8*!!M(!I'9U=G[[E4C5H&D$\EE8Q*'; M@;4#H2>O$( %-QURO-%B+/A26%_&#;HT M.:5\]E<$^[-R*7V\/A6O]%FB3L6G\9WG?X>OXI/]ECEB;/@ROF[B*V$0P "1 M]''X7UC?!".H^;N,@?R""\.M2G#? M< &+Z76@<65$C,#@N%>0KIA=UUUN:4 MZ'SX9J%^K?Q:,;J?KXR)B!6I.$56@Z%.X&WE&WQ]+&;:03Q?']4!,=N/;($$ MR?(&$Z0\E/D%K?(U1S&#S\/F@B+ '3%(%"!/>QA'Q,E#2,>N%2N)G 5NLVA, MA:C-4-L5XBU7C7(&#=FBOGZ'$0GM!CD'GILPHUA=^2.G=HA-N5UI)9R8N%K& M96PSW5\T(L *XOZ*'^ A^5"]Y,001T9V'Z8^=Z!R\H)ST8\9^IK:MTPB,G&! M8@_]+$+*02X+[)''5*#%OIUL%^6>/"0I&"@3!@) 5BH8@ +UG,X_Y'8[^@.J]GK#,M92Y?=")/7UCBA3"A1.S5=K*+ DF7? MP96^4Q08+.=F:!H,RN$6)8#)I8<^_PD(SK9)\9CK=_0WJ%DY>,+R_,F8"6]. M#J3V.]+KC-[ 6SY[=RA6;ERS\0H1%^=S*0E>%X^%7_@'W'4%^HM017(B7#L> MTE4DU*8K.+?$>8.?8OF!?\9!P7A6S]J8=QR;!] #,<2D!(<*4WFZ%)#,8]!_X!$[[UG&@1:S;9&X5J!K?"4"[H-G M_'LR"6Q*OE+3GMDFZ."1#UH.?_)G9./)ALDEU6QAWI^X/BDRJ7?EFCL3ZU#; M;0@B"G()\G[(!9[BX:[=SF#_O'K%JHLS:KTS+H=1HT[KH7>+!H%GVMP#D%H) MD&HX?_ 9*N618-DDS@%:16EY4]#&6& "V!6?:\(E'4CF_NQ8ZW*WTW'!B\0"%(/%"B:,%#J2%QR<:1R&2 MH];D%[I8OO_:>KNCT$N#763><6>P,_7C0;J#4*MWNCO&M0,P4REC@W7N$#O; M[?0.OSBC$AJEK"$4A'7)XP^+OG'O>5[L7P8 M1MR60&8=VIEVQ&,PUB#SN.VBY>_,33W"&@B&.Z<^9(C@G*X RS,P5GG ML*.]#G=8"9K,%8=QQ"P/GRJ$I=@-E60M9:,FTH$]Q#]CKR$3$2QHOYWE)=\-%==V M9QDI.59X>2@)B%=984*NV*5\])N)9;/0][?T&<\+\7.(2;C=3CDNNE$"B]IB MM^/^W(@[HC9V"SV0P+1Q#ESO<5%"%HY?C/BD"W0NTALFXGP"'MO.51J.^>O8 M=2N*5W*HE\.4#*W3+74I-GF!1&#;,XI]P M[Z8@,#-%]RBO86EBPK<&"V Y9W(X2>WM'+ MP=?^**"[\F3OO5C!*)N*N I>C;=JM[4>]DK07;>=B>6L\VA8EGOH89E5;@)% M,8G-9B(,FV>NH@UL]Y3-V5KD^ X%&W95NLHRQ'0'.Q=BV$!)'*:67:W-W4A. MJ6!-ZZ'DYWXOM9H_GM6\GL0L;*FQS8/R5R5G&\\&P<,.CZQX@%L&E23FBLFD M^0YQX088FZ&OA,#45L(/0'A$(D1DLH[PE;'*MHK)NX9K3Z-88_NG-PW(!"9_ MA#_%,2QX!7S'/^GOW\8#I@E#>V#DV17'1W,]+%=VP@/JQ "]S((G X+7M=G,ULK-B@3:U;._#\^S1M'!<210)NR_:*&[D$<1GCZXW\X%1\?36'4+CN_1YM#!MV MI21=":,Y&8;<<3X0T^ZJ\$Q2GP;_WEJCIB,J3+R8D^UTTH+0N8.1OYT[9*F[ M&C3 C3G)%AB<*X@G%$HVF\$JM5V/:49O1=A9AMTR72RN%![6+ M,7F7BC>E3V2)AM>YR ;A)D(D_MN,3='8O%K!;FI0IFCH;6E+H= M(R=[@[(,1SNN[JZE>-+5+=.+7)K];Z?%T3NZ7C+TY-:Y7RI.[>/PRKH,7G$D MKS[U_$QY3H K$@D!(P$[ON.I6;FL/9[_!HH,]WJWB4,CE]=DR2+/);%*VQ@M"4-EEQ?CV6\V ^%"8%).DL: I4FWK73=.XD:"<=:6)D M7#U'A(S^-PXXSB?O82KTTO=,KM2)]"9N",CFIH':"#_S]!<:4N<>T^!0'D,F M#A/TV;$09!._8N;MV3@(GGJ?)O''P;G^'X\B;U!LC/AM''^?YL]+2,_0.^"GFLA1O!?T1( M85R(8&M>D:'GQ&-R$>9SDN*TM?09JWH'?#A3)DI5P$!FG!C2_13@RR>C=Q?^5\R5@Y MO21UT(+W@43[T@'F*5Y4ULQO7G?X^"#S3T".NK[YPZ?'+=4FUS+O[4J4'2DW M_ZVD8VSF825$SH'11A^(6OJ")=B^E<(XJ56#$4-B.B'M\A_<68'2R_ @)FXQ)!XX5>?+8/#;NVV-*?"ZY F..RF MI^T0TGCP>&?C-3(<'PIFW"P^OJ>4PI\'926:[A0]NL>U1F<@E[KM)W(85Z'< MV" @%Q>4"L,DQQ\X \AP!%'WC.M^F5LH5PS6D^[0'I;)NLN'O<85*%)6'+ME M45GBR7QN9K!8.@$TM:P7E:Y*+OR_R77.[_I/"K(EO#N?B;D56B(Q=-S1\FOA MN<>B"$6VE!BN+?;3OD_]&RLL/S>/-I@%SK+Y6,_GUWM92%WC]C9=2'[NS"LA[-:LFF&6VA$7)0DR"0I,+M(] >7 MX/+?*B#BL-+?YHQ+D )3OGLH*;!7@G"R M&Z'W=\D(+%#GHH@86$*R.K#4W8/U=UOIG1*(\H4/'A2Z,B%2/TRV3"*DLH(8 MI@+&)2WXL] SOV+2FY)(7,1NQ24^):F!2(XQR]C@XUMEHB3U\#1V;.5DM,Z6 MK,2]'*T'3[$;Z!V]'E+*[O';.RYEW]@MG"=&^<(Z%*]/C+%NZ*08D\.&OZ<'&Z\9C\<[LN;>>!A7DRGM0$0?- MK)SY(O1!;<_4L$BR]_-P6V/F9/ Z#$&^>/ MASTV#Q&IP,5M$)ED#7'$\ZX'_*&BR.IA#_O5 M%.M@=- .?M ;NZG"K^%Z4MLK]?:V,S8+,UH*(6[!J!.'$7'_2LZ-(H*4> V3 MK_0._A?ZGA-[4.(62(+$UX2KZ@KT>BDFK^?MQBYPZ8UVL8=L=S;D[4_"VY:O MR*=4^-UB@FI3"'N'$@V[I7(8;;VGEU@&.]=R@:GBGV:"9W..80&SV5AN\ MLZ4,=V4/T>XNE1FV'TU96U(^2N61HN =\I$'QF1]/MCV:"G2$MI/QKN(.MO8 M3X(788L[S3P^ND?'\V3)])552H-%7/=?/5E\5N[30U3B_EW8CHH?(+N5BQR4 MD0NXH^S6WT5VVRB+6$Z9[=)JU&74A\?*1N3*0[Q\N&4H;*(F#;*(?':8"V0= M8FV-1XI][U:Z9M< @K2T]L-E)G<1)0R]S#+DM\!RHV C #.N$)Y:\7/+&T^) MWA2M'K[)+K=I-TDL8>S'S"8?V6ZV&@JP[D\/C"]7[#?'DS<.@,<"4N5FW8DE M?R>NK6-$;PZE;7&ZQ@C1N]A;)%\^* [6_9RO[KP.>P'YY$ZN9.,+XQRKU'F4 M+;"#B>@@DGE^D!%M3WA>Z&R&%34Q,89WV/4 $Z[G'L>@X4UW<2#M) (W4Y4( M6TASA&62N?+>\>.M8)XQ7G#^EMI. E#AS,*6DXZ'[#(4'>6PD7+J!0OF]HRG M88IGA]ZZ+RQH9\./LZ7T5XVK>67LI(/O*AA&6'EP J)0]A4OR[2U7+;:4@_:QGRL>)M@1)F2W8R 6@*\[0?20NY='*Q1OE MH;:6(]X2=OW\TL9Q'\)'RM:0=?4Y5V-8QVC8MT]7ZP3<^VJL7Q&L>9JC+QY]9O9ZOZDJ)_=C9%-.Z'S>+] M X7#7O#R04&0L"1>F(/:2=M*1"AL^5IEN+BS+CMV>'O4S5)Q<5G];&X"LA^; M-Y_% SENP8W=!=$M'WJQ3BX23H,H[BVXT?O-FX@%8H:^33P//Q#WP!HMPVL2]VK%,'"Y6 MNEWX;;I=\>>\N),E;I]AC6A\ #8L7?$%O..+RY*4%8H5-#XQUV:;NR_.%9"X-V^45I3HUUJK@"+-G9[?:8@39:;ITN_ M6]UTK5M6M? =2].,=]2'K_ZV/R[$JX?&^5H"Q MQ'I=1K^,-.CU,N5;+#/

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end XML 15 R1.htm IDEA: XBRL DOCUMENT v3.19.3
Document and Entity Information Document
Nov. 12, 2019
Document Information [Line Items]  
Document Type 8-K
Document Period End Date Nov. 12, 2019
Entity Registrant Name EDGEWELL PERSONAL CARE COMPANY
Entity Incorporation, State or Country Code MO
Entity File Number 1-15401
Entity Tax Identification Number 43-1863181
Entity Address, Address Line One 6 Research Drive
Entity Address, City or Town Shelton
Entity Address, State or Province CT
Entity Address, Postal Zip Code 06484
City Area Code 203
Local Phone Number 944-5500
Title of 12(b) Security Common Stock, par value $0.01 per share
Trading Symbol EPC
Security Exchange Name NYSE
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Entity Emerging Growth Company false
Entity Central Index Key 0001096752
Amendment Flag false

XML 16 report.css IDEA: XBRL DOCUMENT /* Updated 2009-11-04 */ /* v2.2.0.24 */ /* DefRef Styles */ ..report table.authRefData{ background-color: #def; border: 2px solid #2F4497; font-size: 1em; position: absolute; } ..report table.authRefData a { display: block; font-weight: bold; } ..report table.authRefData p { margin-top: 0px; } ..report table.authRefData .hide { background-color: #2F4497; padding: 1px 3px 0px 0px; text-align: right; } ..report table.authRefData .hide a:hover { background-color: #2F4497; } ..report table.authRefData .body { height: 150px; overflow: auto; width: 400px; } ..report table.authRefData table{ font-size: 1em; } /* Report Styles */ ..pl a, .pl a:visited { color: black; text-decoration: none; } /* table */ ..report { background-color: white; border: 2px solid #acf; clear: both; color: black; font: normal 8pt Helvetica, Arial, san-serif; margin-bottom: 2em; } ..report hr { border: 1px solid #acf; } /* Top labels */ ..report th { background-color: #acf; color: black; font-weight: bold; text-align: center; } ..report th.void { background-color: transparent; color: #000000; font: bold 10pt Helvetica, Arial, san-serif; text-align: left; } ..report .pl { text-align: left; vertical-align: top; white-space: normal; width: 200px; white-space: normal; /* word-wrap: break-word; */ } ..report td.pl a.a { cursor: pointer; display: block; width: 200px; overflow: hidden; } ..report td.pl div.a { width: 200px; } ..report td.pl a:hover { background-color: #ffc; } /* Header rows... */ ..report tr.rh { background-color: #acf; color: black; font-weight: bold; } /* Calendars... */ ..report .rc { background-color: #f0f0f0; } /* Even rows... */ ..report .re, .report .reu { background-color: #def; } ..report .reu td { border-bottom: 1px solid black; } /* Odd rows... */ ..report .ro, .report .rou { background-color: white; } ..report .rou td { border-bottom: 1px solid black; } ..report .rou table td, .report .reu table td { border-bottom: 0px solid black; } /* styles for footnote marker */ ..report .fn { white-space: nowrap; } /* styles for numeric types */ ..report .num, .report .nump { text-align: right; white-space: nowrap; } ..report .nump { padding-left: 2em; } ..report .nump { padding: 0px 0.4em 0px 2em; } /* styles for text types */ ..report .text { text-align: left; white-space: normal; } ..report .text .big { margin-bottom: 1em; width: 17em; } ..report .text .more { display: none; } ..report .text .note { font-style: italic; font-weight: bold; } ..report .text .small { width: 10em; } ..report sup { font-style: italic; } ..report .outerFootnotes { font-size: 1em; } EXCEL 17 Financial_Report.xlsx IDEA: XBRL DOCUMENT begin 644 Financial_Report.xlsx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end